Government organizations around the world are required to meeting increasingly stringent governance and legislation standards. This dramatic increase in compliance and audit requirements together with tightening budgets is focusing all forward-thinking government departments and agencies to rethink their approach to risk management.
A silo-approach to managing risk is no longer adequate, neither is discrete compliance programs within various business units. If risk and opportunity are managed appropriately with the bigger picture in view, government organizations can benefit significantly from the joined up thinking that enterprise risk management delivers.
Sword GRC provides an Enterprise Risk Management platform that keeps all risk and opportunity information in a central repository, automating and streamlining risk, compliance policy and audit processes. Active Risk Manager helps government, regulatory and state-owned organizations to manage their risk and compliance initiatives more effectively and efficiently.
Enterprise Risk Management is now a requirement for all Federal Agencies and Departments. Now entitled ‘Management’s Responsibility for Enterprise Risk Management and Internal Control’ the new OMB A-123 in the United States underlines the importance of the relationship between internal Controls and Enterprise Risk Management. This is seen by many as the next step following the introduction of ‘risk-based thinking’ in ISO9001:2015.
“Skanska believes that the project represents the world-class standard for planning predictable schedules, collecting accurate progress information, acting on that information and achieving all key milestones. The project in its entirety completed eight weeks early, smashing all financial targets.”
“We have developed the first Australian ‘live’ risk register that operates across disciplines, is enterprisewide and national. Our framework is underpinned by our use of Active Risk Manager and the roll out of our SHREQ initiative has transformed our approach to safety and other areas of risk management. Business exposure is minimized, activities are targeted where they are most needed and, most importantly, safety is improving on an enterprisewide basis. The potential benefits for the Australia rail industry are enormous”
Active Risk Manager is the first enterprise-grade, cloud-based Risk and Opportunity management solution to be available on FedRAMP.
Suitable for use by Executives and Senior Management as well as Risk and Project Management professionals, ARM for FedRAMP gives Government departments the power of the Cloud for faster time to value while significantly reducing upfront costs.
Benefits of ARM for FedRAMP
- Fast time to value and return on investment
- Faster configuration and user adoption
- Centralized database for single source of the truth
- Sophisticated security protects data
- Multi-level escalation and configurable alerting
- Easy to use interfaces support fast user adoption