Welcome

Welcome to Risk Insights Explorer, the only risk software specifically designed to explore risk connectivity and provide simple, transparent assessments of uncertainty in areas such as strategy development, project start-up, Brexit.

Revolutionary.  Explorer isn’t like other risk software.   It is the application of uncertainty management theory, advanced graph algorithms, and scenario-based assessments.

Simple and transparent.  Other risk models and project forecasts use simulations that claim high levels of accuracy and confidence, yet a scarcity of information means they are inevitably based on assumptions and extrapolation.  Explorer specifically addresses that crucial ‘first-pass’ assessment, replacing complexity and assumptions with simplicity and transparency.

Simple does not mean simplistic.  The focus is on quantifying risk, not making pointless ‘High, Medium, Low’ statements, or constructing misleading ‘risk scores’.   

Holistic. Explorer visualises risks and the connections between them so everyone can see the bigger picture.  The app is visually engaging and stimulates discussion, while the outputs are robust and articulate the expected impact across scenarios with feasible outcomes.

Put simply, Risk Insights Explorer asks the right questions and presents back in an engaging and insightful way.  It’s about delivering a joined up view of your risk world.

Welcome to a new vision of risk management.

Risk Visualisation

Risk oversight has become an imperative for companies of all sizes and in all industries.  Boards have had to reformulate their approach to risk oversight and organise themselves accordingly. To make informed decisions quickly, leaders need to be able to access, evaluate and transform data into information. The ability to decipher and act swiftly has become a competitive differentiator.

Visualisation in risk management, however, is still not a frequent topic in organisations, possibly because risk is both difficult to visualise and challenging to describe. Instead of simple to understand visuals the Board and Senior Managers are presented with endless tables, colourful charts and simplistic ‘SmartArt’ graphics; it is quite common for a monthly risk report to exceed a hundred pages.

Risk Insights Explorer has been specifically designed to support top-down risk identification and assessment, and to present your risk insights in a visual way that is engaging, interactive and prompts action.

Risk insights Explorer

Risk Insights Explorer supports management in undertaking risk identification and assessment in a disciplined and systematic way, an approach we believe is the first step in establishing vital risk communication within an organisation.

Using Risk Insights Explorer management undertake event identification to develop a list of specific events that, if they occur, could affect your organisations ability to achieve its objectives. For each event, management performs a risk assessment by evaluating the likelihood that the event will occur and estimating the probable impact of the event if it does occur.

Risk Insights Explorer provides a holistic lens for viewing the interdependent nature of business risks. Because events do not occur in isolation, management should understand how events interrelate. By assessing interrelationships, your leadership team can determine where risk management efforts are best directed.

 

 

Risk Taxonomy

The risk taxonomy primarily supports two key risk framework tasks: to establish a degree of completeness in the coverage of risks, and second, to identify potential linkages between risks factors. The second objective exemplifies Risk Insights ”holistic” approach to risk management.

For an event-driven risk taxonomy to be useful, it needs to be manageable in terms of the number of categories and wide ranging to cover as many causes of events as possible. This means that the taxonomy consists of limited numbers of classes of events that are necessarily broad and imprecise. Event-driven risk taxonomies is the classification used by the Basel Committee. Risk Insights can help your Enterprise-Wide Risk team develop it’s risk taxonomy while the Risk Explorer will help senior management identify important interconnections between risks.

About Risk Connectivity

“The real voyage of discovery consists not in seeking new landscapes but in having new eyes.”   Marcel Proust

At Risk Insights we believe knowing as much as possible about uncertainty – how risks are perceived, how they interconnect, what the landscape looks like – is crucial when managing risk. The Risk Insights Explorer draws on the unique expertise available within your risk and leadership team, and can be readily expanded across a broader management team and to subject matter experts within your organisation as a whole.

The insights will prompt numerous discussions. Risk Insights won’t manage your risks for you but it will further understanding about your risks and allow you to make decisions with greater clarity.