Powering profitable projects

RiskAid is an innovative and easy to use software tool to manage risk and uncertainty - strategically, operationally, within projects or throughout the whole organisation.

RiskAid is highly cost effective. Its use should pay for itself many times over by reducing the costs incurred when unplanned events take place and help protect the organisation from other issues such as reputation damaging events. It does this by allowing users to establish the potential exposure, then reduce the potential exposure by taking preventative and damage-limiting actions, and finally see the benefits of taking appropriate action.

RiskAid is unique in handling uncertainty in every estimate in an intuitive manner. It encourages users to consider the range of alternatives and see how the uncertainty can be managed and even be eliminated by taking suitable actions.

In addition, RiskAid offers significant benefits to users that simply cannot be achieved using spreadsheets or paper based risk management. This includes the ability to set up “what-if” scenarios and easily collaborate with colleagues.

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RiskAid software

RiskAid Benefits

Direct feedback from our customers confirms that most users would benefit from using RiskAid in the following ways:

Making Projects More Profitable

By enabling effective identification, assessment and management of risks at all stages of the project lifecycle – for on and off plan risks. At the bid stage risks can be realistically quantified and discussed with the client to give greater confidence in the proposal with acceptable and realistic contingencies. During delivery, risks can be managed and responded to with the appropriate levels of action and expenditure as the net effects of the actions can be clearly seen.

Better Informed Decision Making

By having the information dynamically available through RiskAid, users can spot and focus in on hot spots, drill down to the information required and immediately answer vital questions that simply can't be obtained from a printed report or spreadsheet. The time in turning around the answers to key questions becomes seconds as opposed to days, months or never.

Expressing and Controlling Uncertainty

RiskAid uniquely allows users to consider and express the range of alternatives in every estimate in an intuitive manner. This means that all possibilities are taken into account and overcomes the hurdle of trying to choose a single figure, especially when you know very well that there are alternatives that could encompass a wide range of values. RiskAid then shows how this uncertainty can be controlled to tolerable levels

"What If" Scenarios

Alternative actions and outcomes can be modelled to ascertain the best route to take without affecting the existing risk register. If the actions are deemed to be the best route to take then they can be applied to the live system.

Audit Trail

Every single action taken within RiskAid can be recorded to see what has changed, why, when and who did it. This provides a full audit trail for both internal and external use (eg, regulatory authorities such as the FPC, FCA or Charity Commission) with no additional effort required.

Monitor Any Kind of Risk

Any type of risk can be monitored and planned for as long as values can be assigned in cost, time or qualitative values. This allows for the risk management of reputation, delay or any other factor the organisation might like to consider.

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