Operational Risk Management Software

Operational Risk Management Software automates the process of identifying, measuring and monitoring operational risk. It's output is a structured risk analysis.

It can be used for project management risks, but is more general in scope and usually offers a top-down risk assessment  measuring risk for every entity in the organisation. This would then be combined with a process level assessment examining business processes across the organisation looking for operational risks resulting from failed processes, people, systems or external events.

While it can provide role based dashboards and also visibility into the ongoing risk management efforts it's main failing lies in its lack on integration with the project accounting software. This means the financial impact of risks are not automatically taken into account in the regular project reviews.

In the construction industry where risks are inherent with every element and trade it is vital to see a tight integration with the risk management software. Muli's Construction Accounting Software introduces an integrated facility called Risk2Do that fills this need rather than relying upon  a secondary solution involving Operational Risk Management Software.