Methodically identify, analyze, and mitigate operational risks
How it works
Initiate from anywhere
In a fast-paced world that is ever-changing, we all face the challenge of identifying and mitigating risks. Having a system in place that allows you to connect risks with your existing processes will help you understand where the risks are coming from and how to prevent them.
Create mitigation plans
Just as important as identifying the potential risks to your business is having a mitigation plan in place. Understanding how actions affect severity will give you insight into what is working and what needs improvement.
With DevonWay Risk Analysis, you can specify ranking criteria configured to your unique processes. You also have the option to use more advanced risk analysis frameworks, such as Failure Mode & Effects Analysis (FMEA), to help drive appropriate actions. Once your plan is set, you can track the actions associated with it and see how they impact the severity of the risks.
Copy line items up to a specified field to make duplicating partial information easy.
Choose to integrate Failure Mode & Effects Analysis into your system and export to PDF, Excel, CSV, etc.
Risks are presented across a hierarchy of individual risks, which roll up to business unit risk areas and general risk categories.
Risks include scores and colors indicating severity level along with associated likelihood and consequence values for calculating the scores.