Method123 Ltd

Method123 Ltd

March 16, 2009 09:30 ET

Risk Management Software Released

ProjectManager.com has today announced the release of its online risk software for projects.

LA HABRA, CALIFORNIA--(Marketwire - March 16, 2009) - The Risk Management Software includes a complete dashboard and reports for monitoring and controlling risks to ensure that projects deliver on time, and under budget. "A Project Managers ability to manage risk is one of those critical factors that heavily influence the success of the project," says Craig Nicholson, Technical Director of ProjectManager.com.

"To allow Project Managers to monitor and control risk every day, we've created this smart innovative toolset," he says. "Their teams can log new risks at any time of the day or night, from any country in the world, and the Project Manager sees an up-to-date view of their risk status instantaneously. Because it's online, everyone sees the most up-to-date view, all of the time. In the old days, someone in the project team was appointed the 'Risk Manager' and it was their job to mitigate risk on projects. But now with the web, everyone in the project team carries the responsibility. If they see a risk, then they can raise it immediately and mark it for the project manager's attention. It's a simple, fast and effective way to perform Project Risk Management".

The new risk management software features include the ability to identify risks, assign them to people for attention and track their progress until resolved. They also allow teams to monitor and report on risks every minute of the day to ensure that the overall level of risk on the project does not rise to an unacceptable level.

One of the unique features released is the ability to see the risk status on a Project Dashboard. This intuitive graphical dashboard gives the team an overview of the number of risks raised, their criticality and their resolution status. By providing a graphical view of the project risk, teams can see at a glance whether they need to take action or not.

Nicholson says no longer do you have to run lengthy meetings on projects to identify risks and rate their criticality.

"It's too time consuming and fraught with error, because the level of project risk changes between meetings. Instead, using this risk software, you can see your risk status at every minute of the day. Your teams can collaborate online as risks happen. And they can take immediate action to resolve them, rather than having to wait until the next meeting to get approval."

ProjectManager.com plans to release Project Management Templates in the coming months to help with risk management, such as customized risk reports, risk templates and tutorials helping teams to better manage risk. Already leaders in the market for online risk management, they hope to 'blaze a trail' into new territory by helping managers and teams manage risks in exciting new ways. ProjectManager.com recommend using a Project Management Methodology to help perform risk management, to ensure projects are delivered on time and under budget.

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