Based on many years' experience in the planning and development of risk tools and applications, today we’re delighted to announce the latest addition to our Risk portfolio — Safran Risk Manager (SRM).
Due to release in Q3 2020, SRM was designed by Risk Managers, for Risk Managers.
Our latest core product represents a brand-new, cutting-edge, and holistic solution to risk management. The goal: to help Risk Managers go beyond the basic identification and quantification of project risks, and manage the actions and resources needed to control the impact of risk on their projects.
It's this that enables them to deliver projects on time and within budget, and tackle some of the biggest challenges facing project controls professionals in the 21st century.
Watch below or read on to learn more about the key features that distinguish Safran Risk Manager from other leading risk management platforms, and explore the benefits adopting our new tool can confer on your organization.
What is Safran Risk Manager?
Safran Risk Manager forms a centralized repository for the various risks and underlying sources of uncertainty that could affect your projects.
It allows you to carefully monitor projects at every stage; from contingencies and cost mitigation strategies, to aggregating causal and consequential risk factors to identify the broader, macro-trends that should be the primary focus of your project teams.
Additionally, our software provides a clear audit trail to ensure full visibility into the project lifecycle.
There are six features, in particular, that help you keep on top of risk across your entire portfolio.
1. Risk Control
With Safran Risk Manager, you can collect, assess, and report on any risks that emerge over the course of your project; be they either threats or opportunities. All based around ISO 31000:2018 methodology and terminology.
2. Impact Assessment
Supporting in-depth impact assessments, Risk Manager doesn't just help you identify, but prioritize individual risks, based on the impact they will have on the wider project objectives. This extends to the contingencies put in place to ensure your team reaches effective and profitable resolutions in the event of a risk occurrence.
3. Record and Report Risk
One of the key features of Risk Manager is the ability to create detailed reports. Presented in tablet format for printing or in-office presentations, our reports increase transparency and ensure that project critical information is always ready to hand.
4. Available on Any Device
A web-based application, Safran Risk Manager can be accessed from any device — be that a desktop computer or a mobile device. It doesn’t matter if you’re in the office or out and about, Risk Manager is perfectly suited to meet the needs of the modern-day project controls professional.
5. Online Accessibility
To further improve the platform’s flexibility, Risk Manager is fully accessible online. As well as streamlining communication within project teams, this makes it easier for you to keep senior executives and investors in the loop, updating them on important developments as and when they occur.
6. Expert Guidance
Use Safran Risk Manager to identify subject matter experts. Leverage their experience and in-depth knowledge to assess new and recurring risks to improve the efficacy of your mitigation strategies and develop preventative measures to safeguard future projects.
Safran Risk Manager also allows you to:
- Identify the objectives, assumptions, dependencies, constraints, and exclusions that apply to your project deliverables
- Provide instant feedback on quantified inputs using our real-time analyser to build confidence and consensus in your risk models
- Conduct cost-benefit analysis to gauge the value of investing further resources in current mitigation strategies
- Parse data according to customizable categories, helping you make robust strategic decisions based on actionable insights
Transforming the Landscape of Project Risk Management
The rich functionality offered by Safran Risk Manager sets it apart from many legacy systems that, while adequate in their day, are no longer fit for purpose. So, whether you’re responsible for time-critical, resource-intensive capital projects or a small project team that operates on a modest scale, Safran Risk Manager has plenty to offer.
Risk Manager gives project teams a greater degree of control over the way they identify and manage risk. Advanced data collection helps Project Managers identify the hidden impacts of risk, while enabling them to establish effective contingencies and accurately track costs from the beginning to the very end of the project — all from a single dashboard.
Visibility and Transparency
Greater control leads to superior transparency and visibility across your project portfolio. This applies not only to the identification and prioritization of risk, but potential treatment opportunities; both in terms of their short and long-term impact. Risk Manager can even be integrated with our existing Safran Risk software, facilitating powerful quantitative risk analysis.
A more transparent approach to risk management makes it easier to communicate the current status of your risk environment to stakeholders. This is achieved via interactive reports that can be customized by both content type and delivery method, to suit the particular needs of each organization or project team.
The discipline of risk management isn’t static. The tools we use to perform it must therefore be equally flexible and dynamic.
One of the main benefits of Safran Risk Manager is that it helps Project Managers stay up to date with and prepare for the inevitable challenges they’ll face on future projects. For example, the ability to leverage thought leaders on specific areas of risk helps project teams increase their knowledge base and identify emerging threats.
Stay On Time and Within Budget
Ultimately, each of these core benefits serves a single purpose: to help users deliver projects on time and within budget amidst an ever-shifting landscape.