Aspen Enterprises Ltd

The Support Toolset

Risk Reasoning Ltd offers a toolset that is a web-based solution to supporting project risk management, especially for widely dispersed project teams on international projects.

It offers convenience, security and ease of use, wherever you can find access to the internet.

It just requires an Internet browser on the computer that you are using.

It doesn't need any plug-ins, so you do not need to download any extra software.

It costs you a small sum each year to access, which includes support and maintenance.

The RiskAid support toolset conforms to:-

PRINCE-2,
BS6079 Parts 1-3,
the latest MoD/CTA/DoD Guidelines and
BSI IEC 62198.

The main screen, providing access to all authorised facilities, and a project summary

Project Summary Screen

The main screen gives rapid access to the summary data for each project you are working on, and all the main facilities that you need.

The support toolset understands the following objects that concern risks:-

(Place your cursor over any object for further explanation)

The support toolset has been developed with the support of a DTI SMART Award for Innovation, based upon its novel combination of fuzzy set, statistics and game theory mathematics, which underpins the risk assessment and allows the support toolset to handle uncertainty.

This allows users to express uncertainty in the probability of a risk occurring and of an action preventing or limiting a risk. It allows users to define ranges of potential cost, delay and impact. And it eliminates the need for Monte Carlo simulations (a statistical approach used by many other risk tools, involving a large number of iterative calculations).

Project maximum and minimum contingency profiles, providing an analysis of the potential costs of risks and actions, against probability

Project Contingency Profiles

The support toolset provides rapid feedback of the potential effects of any assessment or decision, and allows users to create their own scenarios, to analyse and explore their risk reduction tactics, before proposing their solutions to a wider audience.

Risk editing and detailed viewing page, showing profiles, effects of uncertainty, effects of actions etc.

Risk Detail, showing cost and delay profiles, and the result of actions on the risk

The support toolset provides a wide range of reports, highlighting the risk priorities, presenting action plans and deadlines, providing contingency recommendations and showing trends in risks, actions and the project itself.

Priority Matrix, highlighting the risks that need to be prioritised. An equivalent display shows the risk assessments, once the actions have been applied, to identify risks that remain a problem. The risk with a pink background has been changed in the current scenario.

Risk Priority Matrix, highlighting the risks that need to be prioritised.

Further enhancements to the support toolset are planned over the next two years, and we encourage user feedback to improve the toolset to meet your needs.