Express risk in monetary terms, aggregated to account for related risks
Understand the cost/benefit of control scenarios for risk reduction
Profile the best combinations of controls across risk scenarios.
Know your risk ROI
Compare the value of Risk Management to other corporate initiatives
Riskion prevents siloed risk analysis and compliance from impeding true risk management.
Riskion can be used within or across siloes.
What Is Riskion® Risk Management?
Riskion® is a web-based enterprise risk management tool designed to help synthesize, identify, accurately measure, and mitigate risks.
Riskion’s comprehensive risk identification and measurement algorithms help you make better strategic risk decisions that can be better communicated to senior leadership and risk experts across previously isolated risk silos like third party risk, cyber-security risk, supply-chain risk, and others.
By using pure ratio-based mathematics combined with your existing platform data and experienced minds, Riskion® technology is able to help you identify AND SYNTHESIZE events, causes, and outcomes to help you allocate necessary resources to mitigate these risks. More importantly, Riskion gives you the tools to estimate reliable measures for "future" risk with simulations and sensitivity analyses that truly let you quantify when an ounce of prevention is worth the cost.
Riskion's structured, disciplined process eliminates the confusion usually encountered with technical "risk analyses" so that your team can collaborate and better leverage your already existing project management tools to improve risk reduction initiatives.
What Are the Benefits of Riskion® Risk Management?
Being aware of potential risks to your enterprise can mean the difference between bankruptcy and being a Fortune 500 company.
Riskion® risk management carries many incredible benefits that can be both obvious and obscure, but nonetheless crucial to a profitable business model.
Identifies potential vulnerabilities in business framework.
Improve accountability and control over potential risk scenarios
A process that allows your team to uncover hidden triggers, events, and risks.
Reliable relative measures of risk that advance your ability to better allocate resources to manage and mitigate risk.
Scenario specific risk treatment portfolio recommendations.
Global crowdsourcing lets you leverage a wide-range of experience.
Whether you’re looking to mitigate potential risks to infrastructure from a new development or develop risk treatments when introducing a new product, comprehensive risk management represents an incredible opportunity to get a leg up on the competition in your industry.
EXPERT CHOICE RISKION® APPLICATIONS
Suitable for strategic risk management
Aerospace & Defense
Asset Management
Automotive
Banking & Capital Markets
Brokers/Dealers
Capital Projects & Infrastructure
Chemicals
Communications
Consumer Products
Energy, Utilities & Mining
Financial Services
Food and Beverage
Government Services
Healthcare
Hedge Funds
Homeland Security
Insurance
Manufacturing & Distribution
Media and Entertainment
Not-for-Profit
Pharmaceuticals & Life Science
Private Client Services
Private Equity
Professional Services Firms
Real Estate
Technology
Textile Rental
Transportation and Logistics
How Does Riskion® Compare to Other Risk Management Tools?
Unlike other risk assessment methods, you get a clear picture of controls with Riskion, complete with low and high probability events allowing you to design and optimize resources needed for your portfolio of controls.
Real risk measurement, not guesstimates.
Mathematically correct. (meaningful and comprehensive)*
Visual process.
Highly collaborative, team environment.
Simple web-based interface.
Science-based analytics.
Actionable reporting and analytics.
Riskion is the only tool that provides measures that are both comprehensive and meaningful.
While existing risk methodologies rely on mathematically meaningless shortcuts, Riskion® technology uses techniques that achieve true ratio scale measures for both risk and likelihood.
Riskion® uses a clear, visual model to help you identify objectives and distinguish between potential risk treatments.
Through our web-based crowdsource model, you are able to invite and request insight from everyone from your Board of Directors, experts within or outside your organization, or from stakeholders anywhere around the world. Once all judgments are provided, an initial risk model is designed based on probability and impacts of the risk event. This information is synthesized into a “bow-tie diagram” that gives you an easy to understand visual map to potential risk sources and objectives.
Now, you are fully aware of every source and cause of risk and outcomes that will help you design a complete map to an adequate solution. With this map, you can ensure that your business is ahead of the curve if and when potential risks occur.
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