iDynamic Risk Management

Risk is the underlying issue with almost everything, from accidents to financial loss.

 

Risk assessments are the only way forward to identify serious risks and take corrective action on the task or situation before anything happens.

 

There are two main Risk checks which should be undertaken within your company.

 

Task Activity Risk Assessments Corporate Risk

 

Both are important to undertake, but even more important, to continue checking their validity by planned review timescales.

 

iDynamic Task Activity Risk

 

Most company have some, but not all, risk assessments of their tasks. Based on our knowledge over 80% of these are printed neatly on paper, filed and stored. When something negative happens there is a clamber to be able to find the risk assessment, quickly and easily, with fingers crossed and hoping it is up to date.

An Airport was the first to approach us because the negative happened to them. It took over two hours to locate the Risk Assessment only to find out it was 4 years old and everything had changed relating to the task – so completely useless. They were heavily fined.

 

Knowing that every client would want the same concept, they would all require different data to satisfy their demands. So, we based the whole system on our nucleus system – Dynamic Recording. This made it a highly flexible client system from day one.

Benefits of the iDynamic Task Activity Risk Application

 

    Each Task Risk is allocated an OWNER – Someone directly responsible

    Each Owner can have Risk Creators – People working for the Manager who can create a risk but cannot approve it
make it LIVE.

    Once the Task Risk has been created then the Owner must check and approve it before it becomes a live risk

    Passwords can be setup so that anybody can view the Task Risk but not to be able to change it.

    Each Activity in the Task is managed from an actual risk to the residual risk with measures in place.

    Each Activity has it own individual risk score factor.

    The Task risk matches the highest Activity Risk factor within the task.

    View the Task and the summary of each Activity and their Risk level on a single page, making it easy to view the whole task.

    Reviewing the Task is important, if not crucial. Either using the Risk Level of the Task or predetermined review dates the Owner receives an email with limited time to review the Task.

    If the Task is not reviewed, then the Task is set to OLD TASK – NOT REVIEWED until it is reviewed.

 

iDynamic Corporate Risk

 

Pensions going missing, a terrorist attack, fire or something much simpler – a competitor starts up and under-prices your Company – All Corporate Risks which should be logged and monitored so that you retain control of events.

 

Knowing these risks within your company are paramount to the safeguarding of your company. Who is responsible for owning each risk? Who monitors the risk to identify potential changes early?

 

    Each Corporate Risk is allocated an OWNER – Someone directly responsible

    Each Owner can have Risk Creators – People working for the Manager who can create a risk but cannot approve it
make it LIVE.

   Once the Corporate Risk has been created then the Owner must check and approve it before it becomes a live risk

    Passwords can be setup so that anybody can view the Corporate Risk but not to be able to change it.

   Each Corporate Risk is managed from an actual risk to the residual risk with measures in place and actions for additional measures in place.

    Reviewing the Corporate Risk is important, if not crucial. Either using the Risk Level of the Corporate or predetermined review dates the Owner receives an email with limited time to review the Risk.

Knowing which risks are there, understanding the overall potential Company loss is half the battle. The other half of the battle is to allocate an Owner to each risk and to review the risks at planned intervals. iDynamic Corporate Risk helps you to maintain all of these objectives.

iDynamic Applications

Audits, Reporting, Risk and Coaching

Would you like a Demonstration
of iDynamic Risk?

If you would like to see our dynamic Task or Corporate Risk then we would be pleased to visit you and give you a brief demonstration of it. Just phone or email us as below.

 

Telephone 01825 713058 or email info@a-n-t.com

Get In Touch

Advanced New Technology Ltd,

Pippingford Manor, Pippingford Park,

Nutley, East Sussex,

TN22 3HW

 

01825 713 058

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