Risk Matrix Management Tool

One of the more vital processes every company should have in place is risk management. No matter the size or scale of your business, risk management will help you identify, assess and control threats both internally and externally. While there are many variables that can cause certain risks from arising, some of the main risks businesses face stem from financial uncertainties, legal liabilities, technology issues, strategic management errors, accidents and in some cases natural disasters.

At BC360, our team has developed a unique, state of the art Risk Matrix Management Tool to help with successfully identifying risks and preventing them from developing or spreading across your business. Whether you have an allocated risk management department or require assistance from our BC360 team, our Risk Matrix Management Tool is the best way to review and consider all the risks that arise in your organisation.

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What’s The Different Between a 2D and 3D Risk Matrix Management Tool?

By offering both a 2D and 3D view in our Risk Matrix Management Tool, companies using BC360 systems will be able to cover a wide range of risks that would have otherwise gone undetected. The traditional Risk Matrix Management Tool is a 2D view of risks, plotted in a table with two elements- likelihood and consequences. The 2D view offers an easy way to update and print a risk matrix. As for the 3D view, BC360 has introduced a state-of-the-art way of considering a third factor in risk management, which includes people, cost, or time. Essentially, the 3D view will allow you to separate key risks and consider in depth the ramifications of each risk. While the 3D matrix will be a lot more complicated to use, it will also present a more realistic representation of certain risks. As a third variable in 3D Matrix, companies can use People, Time or Cost.

AU Organisations with mature DR (%)

Cost of DR to AU organisations (in Billions)

Organisations without a DR plan (%)

Average downtime due to DR (hours)

How Can a Risk Matrix Management Tool Improve My Business?

All in all, a Risk Matrix Management Tool is a great way to identify, assess and control potential risks in your operation. At BC360, we have designed a tool that will help you visualise the internal risks that your organisation can face, presenting them back in a graphical 2D or 3D view. This will ensure your businesses can stay up to date and on track for a successful and more secure future.

To find out how a Risk Matrix Management Tool can help your business, please contact our BC360 consultants today.

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