8 Risk Assessment Tools To Use In The Workplace

With the use of a risk assessment tool, you can help identify and eliminate any unexpected situations that may arise in your business processes. Despite any mitigation procedures in place that can help reduce the severity of an issue, implementing a program that can detect risks early helps managers to catch any problems before they progress. Finding a precise tool to identify issues is beneficial to helping you define risks.

In this article, we discuss risk assessment tools and some programs to research when you’re looking to eliminate risks in the workplace.

What are risk assessment tools?

Risk assessment tools are software programs to help organizations manage any unforeseen hazards. To reduce risks, there’s a variety of data that requires in-depth reporting, decision-making and processing thorough analysis. Each tool has unique features that are suitable for varying industries. Implementing assessment measures is beneficial to effective risk management, which allows a company to monitor any potential threats that may interfere with its earnings or other business processes.

8 risk assessment tools

Here are eight assessment tools to consider using when you’re trying to mitigate risks throughout your organization:

1. Isometrix

Isometrix is an environment, health and safety (EHS) software program that features risk management tools for medium- to high-risk industries such as logistics, renewables, waste services and utilities, among other environmental fields. They specialize in enterprise compliance and risk, which allows organizations to determine, assess and regulate hazards in each aspect of their business activities and processes. With social and environmental sustainability, Isometrix also allows you to track, calculate and report data to ensure the earth’s atmosphere and human civilizations are unharmed.

2. LogicManager

This risk management tool allows users to identify, monitor and mitigate any potential issues in a centralized hub or domain. LogicManager connects each aspect of a company’s risks, resources, controls, processes and staff to help alleviate any unforeseen issues that may arise. This program features an interactive dashboard so you can inform its stakeholders of any risks that may be a hazard to the company and its business processes.

3. RM Studio

RM Studio is a software program that identifies and implements risk management processes, procedures and policies to meet an organization’s business objectives. This program specializes in providing companies with a variety of tools, such as IT governance, compliance and cybersecurity. They also offer business continuity and system-theoretic process analysis (STPA), which is a process that helps determine any hazards or accidents that may arise throughout various business processes.

4. A1 Tracker

This risk management software is a comprehensive program that offers organizations assessment tools at various levels. It allows users to monitor incidents, perform audits and track risks. You can also trace assets and contracts through real-time reports.

This program notifies company leaders when there’s a potential risk by department, business unit and region. A1 Tracker features a customizable dashboard so users can manage portals, report metrics and integrate other computer software systems. They offer a variety of risk assessment software tools, such as warranty management, procurement, insurance and incident, among other programs.

5. Analytica

Analytica is an IT consulting firm that specializes in managing, analyzing and protecting a company’s information. They work with a variety of government entities, such as national and civilian security, along with public sector health. Analytica uses analytics, technology and data-driven solutions to support the government and citizen services. Service areas include data management, agile project management and consultation management. They also specialize in software engineering and health services.

6. Resolver

This intuitive risk assessment tool is an easy-to-use program that helps organizations track and monitor any potential hazards. They provide solutions for company departments such as risk and compliance, information security and corporate security teams. Resolver programs include vendor risk management, case management and IT risk management, among other security measures.

7. Enablon

Enablon provides risk assessment and management tools to help corporations defend their reputation and enhance business performance. They help organizations adhere to policies and regulations, remain consistent, improve communication and collaboration and meet business objectives. Enablon tools run on three different platforms, including Invitation 4.0, Enable Go and Vision Platform. Each platform offers intuitive software programs and applications to help organizations track, identify and assess any risks that may arise in their business processes.

8. Isolocity

Isolocity offers a risk management software program that allows users to manage their hazards on one platform. When an issue arises within the organization, managers can assign an owner to manage the problem. You can also create tasks and set deadlines for those assigned to a particular risk. Managers can also prioritize each unforeseen circumstance according to importance. Isolocity also features other programs such as supply chain, inventory, and document management.

Tips for choosing the right risk assessment tools

Here are some tips to use when you’re looking to choose an outstanding risk assessment tool for your organization:

• Test functionality: When you’re determining the risk assessment tool that’s best for your organization, it’s beneficial to test the functionality of features. This includes prioritizing and testing each aspect of the software to ensure they function accurately, so they align with the identified risks within your business processes.

• Determine users: When picking a software program for your company, it’s helpful to seek advice from your staff. You can do this by evaluating each employee’s needs and how they can use specific software and tools to better identify any issues that may occur within their projects.

• Consider training: Before committing to an assessment program, determine how you might train your employees. This may include assessing each team member’s technical skills that they possess to properly use a particular software program.

• Identify reporting: As you assess your decision, it’s beneficial to identify what reports may require tracking. Ensure the software you choose can trace each component of risk management you’re seeking to improve.

• Establish integration: In your research process, it’s useful to determine if specific software is compatible with the computer programs your organization already has in place. Ensure each tool is compatible with your projects and company processes.

• Evaluate affordability: It’s important to ensure the program you’re implementing fits within your organization’s budget. It’s also helpful to consider any extra expenses, such as training, testing and customizing tools to fit the needs of your organization.

I hope you find this article helpful.