Softools RiskPlan - Risk Management Overview

Most industries are now highly competitive and the post-Covid mantra is better, faster, cheaper. With these pressures comes risk – lots of it. If the risk is not managed the results are poor, slow and expensive. Managing risks, and conversely, taking opportunities, will have a big impact on both the bottom line for your business and the individuals within it. Most organisations are consequently now holding risk management in higher regard, with associated risk management roles being valued more highly and rewarded appropriately.

As Digital Transformation DX becomes the central strategy for survival and growth, risk management will be a core capability for every individual in the organisation. From the board members who need to understand how to set risk strategy, to operational managers who should understand how to protect the ongoing business, and project managers who need to understand how to systematically deliver objectives within time and budget constraints. Risk management should be part of their DNA.

The problem is that most business people think that they understand how to “do” risk management. Most organisations have audit driven risk management procedures that encourage people to “tick the boxes”, but for many organisations this results in catastrophic failures. The concepts of risk management are indeed simple but the effective application is not, and this is where effective processes and tools can have a big impact.

Softools RiskPlan provides a world-class tool to: ensure risk management is implemented consistently across businesses and in a way that reflects industry best practices. RiskPlan further delivers real-time visibility and control to the key decision makers in a business, and provides a forum for effectively capturing and sharing lessons learned, so critical risks are mitigated in the future.

Softools RiskPlan also provides a learning tool for those new to Risk Management. Use the Support Articles to learn more about the tool, its principles and practices of risk management, and use the Online Coach, accessed via the 'i' button on each section of the app to get quick tips on completing each stage of the process.

RiskPlan benfits from running on the advanced Softools web application platform, allowing you to work anywhere, anytime. Softools apps can run on any device from PCs and Tablets, to the latest SmartPhones.  You can also work offline - allowing busy managers to capture risks on their mobiles whilst walking around an office, production plant, or on the journey home - once you are back online, RiskPlan will automatically sync your data.

Risk management needs champions, people who will drive through the problems and setbacks, convince sceptics of the need for formal risk management and believe that the process will ultimately deliver.  Perhaps you are that champion: perhaps just for your team, project or division of your company, or perhaps for the entire organisation as the Chief Risk Officer.  Whatever your aspirations, you have an exciting time ahead.  There will always be risks and it’s your job to identify, prioritise and manage them.