Archive for the ‘Express’ Category

Coming To RiskManager – Enrima Edition

Saturday, August 8th, 2009

The release off V6.2.5 was delayed a couple of months because under the covers we were putting in a huge range of changes to the database to enable addition or improvement of a very large range of features. Some of these capabilities existed in earlier versions of RiskManager, but were dropped with the release of the completely re-written and redesigned V6 solution. Others were phased out even earlier (like probability based risk models – in Version 2, Bayesian decision trees – in Version 1 – 1996! ) .

Version 6 was design around the A/NZ Risk Management standard and a poll of what clients were actually using, and with the objective of vastly expanding the depth and versatility of the facilities in use, rather than breadth of features. So with V6 what is there is really useful and complete, rather than almost useful. Not all of the feature retirement decisions were correct, and for a large number the intention was not feature termination, but feature resting.

Curiously, because BPC RiskManager Express is actually based on the RiskMan V5 code base, a number of these features – like Compliance, Risk Milestones, and MS Word Reporting are in BPC RiskManager Express, which is the ‘Entry Level’ system, yet were missing from the V6.0 release. BPC RiskManager Express got it’s screen makeover with last years release (actually it was started in the release of the year before and completed last year).  Version 6, got its Vista screen make-over in 2008 with release of V6.2.0  (Enrima Edition).

In the years since V6.0 was released the world of Governance has advanced significantly, and many of the capabilities we phased out over the years are now becoming fashionable again. So…with the release of V6.2.5 we decided to put back into the database most of the features that had been retired in earlier years, feed them some steroids and add a raft of new capabilities (like corporate planning support), together with a Vista/Office 2007 style rework of the screen look and feel.  Buried in your V6.2.5 databases are 297 changes (some times fields, sometimes entire tables) just waiting to be surfaced to the client.

Over the next six months we will be progressively surfacing these capabilities to the V6 client. Things that are getting added or reworked include:

  • Corporate Planning
  • Compliance
  • Multi-base consolidation
  • Workflow
  • Scripting
  • Compliance Document Management
  • Assertion based control assessment
  • Control modelling
  • Internal Audit Planning and Assessments
  • Assets (including buildings)
  • Scheduling
  • Probability calculations
  • What-If analysis
  • Import and Export
  • And much more…

Now I know, some of you will look at that list and say about individual items: “I’ve got that now! How is that being added?” . Well, note that I said “added or improved”.  Existing versions of these features are getting a good dose of steroids; transforming the system from a register and risk/compliance maintenance tool to a planning and analysis tool and full corporate governance management system.

We gave the process of governance a significant rethink over the last few years and realised that to make it work from the risk management dimension as an aid to an organisation, rather than a standards compliance exercise, ERM has to start with the corporate planning side of the business and flow down to the business processes and ultimately to compliance management, with Internal Audit floating across all dimensions validating the reliability of the strategic and tactical control frameworks.

Senior executives, therefore, should use the Governance system to create and report against their corporate and business plans, and in so doing design (or enable the designing of) the risk framework against the strategic and tactical plans. The system therefore has to see risks, not just as a static demographic and environment responses, but as a temporal and cognitive response to both the current and planned positioning of the organisation.

…And this is where we are going.