The existence of numerous risk registers spread across multiple departments makes keeping track of documented risks almost impossible. Dealing with conflicting duplicates and inconsistent scoring systems makes utilising the risk information you have equally difficult.
That’s why consolidating and standardising your risk information into a single centralised platform is a vital and necessary step in implementing meaningful risk management strategies.
Mitigate is an easy to use, anywhere/anytime risk management platform designed to become the central repository for all your risk data. Say goodbye to dealing with dozens of inconsistent and dispersed Excel risk registers by consolidating them into a single centralised and accessible risk management platform.
Utilising a single platform will allow your company to avoid the problem of conflicting duplicates, version control, registers being saved on numerous network or local drives and inconsistencies in formatting and language.
The process of standardising and consolidating risk information is essential to not only keeping track of numerous risks, but the ability to understand and prioritise risks to inform your mitigation strategies.
Imagine if you were asked by your leadership team “What are our Top 10 risks?” For a lot of companies that isn’t always to hand. Similarly, whilst traffic light systems are good how do you know which red light is more important than another?
This is where Mitigate’s unique Urgency to Mitigate (UTM) calculator makes risk management easier not just for risk professionals but other departments who need to keep their specific register up to date.
The UTM calculator takes values for the likelihood and potential business impact of a risk and combines these to create a single comparable UTM score. The calculator is easy to use so a risk score can be calculated in a few clicks.
These scores can then be used to order the importance of risks when planning mitigation strategies. Post mitigation scores can then be used to evaluate the successes and shortcomings of these deployed strategies.
By having risks centralised and meaningfully scored, Mitigate brings clear visibility to your risks and with that visibility you can begin to manage. Here are some examples of how our existing clients use Mitigate to manage their risks
Follow trends and map changes to risks and mitigation strategies over time. This will allow you to incorporate valuable data-driven insights to help drive your risk management strategies.
By unifying risk registers, standardising the scoring and language used around risk, and making the process of risk management transparent, Mitigate can become a force for cultural change.
Create an accessible platform that facilitates meaningful scoring of risk. This will allow you to see ranked risks by groups such as department, team, office or region at the touch of a button, and help to drive risk management strategies with relevant data.
A fully customisable dashboard and widget system means that mitigate can be curated to meet your exact needs. Unlimited users and granular admin permission options means that Mitigate can become an important and useful tool for your whole team.