Risk Management

Risk mitigation: Centralise, score and manage your risks

The ability to understand and manage your company or firms risk is more important than ever.

The Mitigate system allows you to centralise your risk registers, score your risks and manage them with data-driven insights.


How do you transform a collection of risk registers into a risk management strategy?


CENTRALISE

Consolidate and standardise your risk registers

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.

Say goodbye to Excel

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.


SCORE

Mitigate’s innovative Urgency to Mitigate calculator makes meaningful granular scoring of risks possible

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.

How does it work?

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.


Manage

Use data-driven insights to inform and improve your risk 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

  • Create highly visual reports e.g. ‘Top 10 Risks’ ‘Top 10 Facilities Risks’ ‘Top 10 Manchester Office Risks’
  • Track changes to risks or reminders to register owners over time using the Mitigate alert system
  • Monitor department/team/group performance
  • Determine who has access to which aspects of Mitigate. For example, a Risk Director will require full visibility but an HR Director will probably only require visibility on their HR risks

An Essential Tool for Managing and Understanding Risk and Risk Mitigation

Powerful Data Presentation and Analytics

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.

A Force for Cultural Change

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.

Score and Rank Risks and Risk Groups

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.

Customisable Widgets and Dashboards

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.

Keen to learn more?

Please contact us on 01962 835053, or use the Quick Contact form to make inquiries or schedule a demo.

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