Risks affecting organizations can have consequences in terms of economic performance and professional reputation, as well as environmental, safety and societal outcomes. Therefore, managing risk effectively helps organizations to perform well in an environment full of uncertainty.
Gateway has developed a user-friendly risk management solution on the Microsoft 365 platform that provides a consistent approach to manage operational and business risk for organizations in highly regulated environments.
Risk Watch may be licensed as a stand-alone application. Risk Watch extensions are also embedded within the entire FACILEX® suite of applications to maximize ease of use.
FACILEX® Risk Watch aggregates risks from:
Risk Watch provides the information organizations need to evaluate “What are our greatest risks”
A key feature of the risk management application is the representation of the business process using a lifecycle. The baseline configuration provides lifecycles for several types of risk:
FACILEX® Risk Watch provides a powerful and intuitive initiation process that manages the collection of the common and site specific attributes.
The application is configured to represent an organization’s asset structure in drop down menus that rapidly allow the initiator to define where the risk applies.
Any risk register numbering scheme can be supported. FACILEX® uses standard SharePoint lists that can be easily configured for additional attributes such as text, numbers, dates or Boolean logic.
Risks can be registered by any authorized personnel. The FACILEX® license model is based on facility or region. There is no limit on the number of users that can participate in this process.
FACILEX® Risk Watch is also available as a mobile application that allows the process to be initiated off-line and synchronize later with the Microsoft 365 platform.
Forms capture sufficient information about the risk to determine the appropriate follow-up actions. This includes classifying the risk by: type, location, risk level, and mitigation date.
FACILEX® delivers efficiency to the process by providing a common register for reporting risks while conducting Audits, PHAs, MOCs, Capital Projects etc.
FACILEX® allows the risk owner to select people and groups to participate in the mitigation of the risk from the Microsoft Active Directory.
FACILEX® automatically generates all the standard action items for risk assessment and notifies individuals and groups of their assignments by email and on the Participants Portal. Additional action items can be added or open action items can be edited or deleted by any authorized user. A Risk ranking matrix is provided out of the box, however an organization’s preferred risk matrix can be easily substituted.
FACILEX® uses SharePoint for all aspects of electronic document management including: access, version and revision control. Each risk has a comprehensive folder structure to / store supporting documentation and work-in-progress documentation.
The baseline configuration comes with several standard reports and custom reports are easily configured. Risk reports can be rapidly printed or exported to graphical reporting tools such as Power BI, Excel and third party products such as a Tableau.