Risk Management Software

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Risk management software is a tool that helps a business improve by ensuring effective risk management and analysis. A good risk management software should be able to accomplish the following:

  1. Employs flexible management of risks, opportunities and according actions
  2. Requires little administration efforts to identify and analyze risks, opportunities and actions
  3. Ease of exporting data from the software to other related applications that the business uses
  4. Utilizes qualitative and quantitative risk management
  5. Displays the impact of an uncertainty either as cost or time

Despite the availability of the risk management software, the business should still be monitored by consultants who are focused on equipping teams with practical skills for effective risk management. This software is only designed to provide business owners with a sound basis to make well-founded decisions. It is not a total replacement to.

Further reading: Corporate Governance | Audit | Performance Improvement

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