Risk Management 101

Risk Management 101

What are the most-asked questions about risk management software?

There’s a lot to think about when considering the investment in risk management software for your organization – which risk management solution offers the best features and benefits? Which risk management software vendor ticks boxes for industry know-how, training, support and customer care? Cloud v on-premise? How soon can you expect to start seeing a return on your investment once you’re better placed to balance risks v opportunities?

Getting right back to basics, we’ve addressed some of the most common questions people type into their search bar when they’re researching risk management software with a view to driving better business performance.

What is risk management software? ​

A type of enterprise management software, risk management software enables businesses to proactively manage risk providing the ability to identify threats to projects or business operations, reduce risk exposure, take steps to mitigate risks and minimize the likelihood of or impact of risk events.

What does risk management software do?

Risk management software provides the ability for an organization to make better, more informed risk-based business decisions, through the ability to identify known and unknown risks, track incidents, evaluate corrective actions, monitor enterprise-level performance and ensure regulatory compliance.

What is the best risk management software?

Many reviews and directories list the best risk management software solutions available on the market from a variety of vendors. For global customers across all sectors of industry, Active Risk Manager is the world’s leading risk management software solution – addressing the risk management needs of the entire organization. From managing project and program risk through to strategic business planning, ARM helps organizations identify, analyze, control, monitor, mitigate and report on risk across the enterprise.  

What is enterprise risk management software?

Enterprise risk management software enables you to take an organization or enterprise-wide approach to risk management, governance and compliance. Often abbreviated to ERM, enterprise risk management software provides a framework for managing risk helping to protect an organization from threat or harm, whilst meeting business objectives and identifying or creating opportunities to enhance business performance.  

Why use risk management software?

Risk management software can provide risk managers with a largely analytical tool to help identify potential problems – to a project, initiative or business operations – before they occur, manage risks throughout the project lifecycle to help reduce adverse effects upon the attainment of project or wider strategic objectives.   

Is risk management software suitable for small businesses?

Highly configurable and flexible to provide a single view of risk, Sword GRC’s world-leading project risk and enterprise risk management software powers risk management for medium and large organizations in core industries of Aerospace & Defense, Mining, Energy, Rail, Construction, and Government. 

How much does risk management software cost?

Contact Sword GRC to discover how with a focus on driving time to value, our risk management software supports better business decisions through a single view of risk to support enterprise-wide risk-based compliance. The Sword GRC product set covers Risk, Audit, Compliance, Policy Management and Incident Management.  

What is financial risk management software? ​

Financial services institutions use risk management software to manage exposure to risk and protect customers, stakeholders and business reputation. Sword GRC’s solution for the financial services sector, Sword Operational Risk Manager, enables the execution of better business decisions in the face of tight budgets and complex governance and legislative requirements.

What is risk management software engineering?

In software development projects (and within any project context) risk management software enables risk managers to address uncertainties or threats to the attainment of project goals. The risks may be diverse and impact cost, schedule, quality of the product under development, even project team morale. Enabling the control and mitigation of all types of risks throughout the lifecycle of the project, risk management software provides a vital tool in project delivery and successful project outcomes.  

Learn more about Active Risk Manager

The world’s leading risk management software.
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