What is KnowRisk® and what does it do?

KnowRisk® is a generic risk assessment and management application. It allows users to create "Profiles" as assemblies of any combination of Risks, their Causes, their Consequences and their Controls. "Profiles" are based upon the content of definable Context hierarchies. "Profiles" are used as vehicles for the exercise of pro-active management.

Who should be using KnowRisk®

KnowRisk® should be used by anyone interested in pro-actively managing the potential downside that may impinge upon their business or project endeavours or any desired and/or required outcomes. Similarly, KnowRisk® can also be used to manage the successful outcome for desired opportunities.

Who can use KnowRisk®?

Large or small organisations, government departments or consultants can use KnowRisk® from stand-alone single user installations, to the most demanding professional enterprise-wide applications. Users can start with a suitable model in the suite and upgrade as their requirements change and the number of users increase.
KnowRisk® has been designed to apply Risk Management by making it easier for general staff to analyse their Risk position. The process of identifying Risks has been made far simpler by using preconfigured templates and libraries of Risk data in the KnowRisk® database, thus focusing the Risk process more towards the Controls that should be in place to mitigate the Risks. However, it is fully customisable so that experienced Risk Managers can use KnowRisk® in the most productive way.

How can KnowRisk® help your business?

KnowRisk® can assist your business by assisting in the managing of the reduction of the likelihood of adverse events occurring as well as mitigating the impacts (the Consequences) of those adverse events (the Risks) that have in fact already occurred by the use of the appropriate Controls on both Risks and their Consequences.

How may KnowRisk® be applied?

KnowRisk® may be applied to any situation where the Risks are known or can be identified. This situation leads to the "Context" that forms the basis of a "Profile". Thus as long as the situation can be identified, and the dangers it faces can be described, then KnowRisk® can be applied to the task effectively. It follows that scenarios can also be modelled and quantified for multiple Risk situations.

Does KnowRisk® comply with International Standards?

KnowRisk® complies with and exceeds the Standards recommendations for Risk Management, AS/NZS 4360, and ISO 10006, in setting the Context, Risk identification, the assessment and analysis to determine the levels of exposure, optimising the treatment strategies, and establishing Action Plans for the implementation of effective controls, as well as the monitoring of Risk Action Plans.

Can KnowRisk® be used from a Subjective or Quantitative perspective?

KnowRisk® can be used to form a pure subjective approach to managing Risk with the Likelihood combining with the Consequence to produce a level of Risk (called the Risk Rating), both for the Inherent and Residual assessments. ie both for before and after the action of any Control measures have had a chance to mitigate either Likelihood, Consequence or both.
KnowRisk® also provides the means for fully quantifiable analyses to be determined, including a basis for using statistical analysis to derive probability and exposure figures.
The subjective and quantitative approaches are fully synchronised. ie the relationships between subjective terms such as "Likelihood" and "Risk Rating" will always be associated with quantitative measures such as "Probability" and "Exposure" respectively. This means that once you start populating, say the subjective fields first, the corresponding quantitative fields are also being populated, giving some measure of the dollar values behind the subjective words. This provides a simple means for users to gradually embrace a quantifiable analysis over time and also, a basis for using KnowRisk® in a semi-quantifiable manner.

Can users configure KnowRisk®?

KnowRisk® comes already configured to the generic risk management processes used by most organisations for the way they want to implement their strategies. These can be used as is, or as starting points to build processes more suitable to your organisation. This can be achieved by grouping available default fields in KnowRisk®, or creating your own user defined fields.
Organisational structures are easily represented in suitable tree hierarchies, and similarly for associated contexts such as work, assets and functions.
Users are able to build Knowledge Databases of standard data for Causes, Risks, Consequences and Controls that in turn are reusable.
The software can be used in a very simple mode, and allows users to map out their path to increased levels of sophistication.

What security does KnowRisk® offer?

Further to the organisation's IT infrastructure security protocols, KnowRisk® provides several levels of security. A system Administrator has overall authority over the database and other features.

Are there any reports within KnowRisk®?

A number of standard, as well as ad-hoc reports can be generated. KnowRisk® has also been designed to integrate with other applications, such as MS Word, Excel, MS Project and Lotus 1,2,3. The reports can be at a profile level, or aggregated to any level of the organisational tree structure.

What platforms will KnowRisk® operate on?

KnowRisk® is designed to operate in Windows 95, Windows 98, Windows 2000 as well as the NT operating system.

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