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BowTies are an easy to use, yet robust graphical tool allowing you to quickly identify, control and communicate all risks, threats and consequences within your organisation allowing you to maximise gain and minimise loss before and after risk events

Bowtie Risk Management Methodology

  • BowTies are a highly effective method of assessing all threats that could lead to an undesired risk event, as well as the multiple consequences should the risk event become a reality. Risk controls can then be put in place between the threats and the risk event, as well as between the risk event and downstream consequences, thereby managing the risk.

BowTie generated by BowTie RS

  • BowTie RS makes it easy to create BowTies on any device, using your usual browser. In the example above, four threats and consequences are associated with a risk event (top event). To mitigate the risk, barriers and recovery measures have been put in place to inhibit threats and consequences. Note the extensive colour-coded information provided by the software.

BowTie RS allows you to create multiple BowTies across your entire organisation, and the software feeds them into a full risk management system creating an extremely powerful risk management tool that can handle your entire risk portfolio.

Organisation tree for effective risk management

Interactive organisation tree
  • Easily map your organisation structure to your risk management plan with a fully customisable Organisation Tree allowing you to track and manage risk in different locations, teams and domains in your organisation.

Graphical data-rich risk assessments

Graphical Risk Assessments
  • Risksoft software is designed for rapid communication. Key information from multiple bowties is presented in a colour-coded manner in a high resolution layout with fully sorted, quantified, grouped, filterable and customised information.

Live quantified interactive dashboards

Live Risk Reporting Dashboards
  • BowTie RS constantly monitors your business at every enterprise risk level, register, portfolio and control plan. Live risk is actively reported on a range of dashboards including graphs, pie charts and risk matrices.

Fully customisable to suit your business needs

Customisable Risk Management Software
  • All Risksoft software is fully customisable. You can customise labels, categories, colours, thresholds, enterprises, impacts, probabilities and more. This gives BowTie RS the capability to truly match your exact operating requirements and parameters.

High resolution zoomable graphics for clarity

BowTie RS high resolution graphics
  • All BowTies and other graphics in BowTie RS are high resolution and can be resized, customised, zoomed in and out on and automatically adjust to your device screen size. The 'take a snapshot' button allows you take a high quality jpeg image for use in external documents/ power point presentations etc.

Clear and concise control information

BowTie RS Risk Control Summary
  • The most important part of your risk management plan is your risk controls and controls themselves need careful management. BowTie RS gives you clear and concise information about the status of all your risk controls e.g. how many are active/ inactive, and colour coded warnings about when you need to review each control.

Export reports to and import from Excel

BowTie RS Excel Report
  • Effective Risk Management systems generate a huge amount of data in order to assess and prioritise the current risk portfolio status, based on probabilities,impacts and control status'. BowTie RS allows you to export all this data into customisable reports for use in other applications. Moreover, you can also import BowTie data from Excel.

Comprehensive help on every screen

Bowtie Risk Management Software Help
  • BowTie RS is easy to use, however like all new software it can take time to get to know in order to get the most out of it. On every screen of BowTie RS is a help menu in the form of the drop-down bar. The help bar will tell you all you need to know about the screen you are on including user interface information and in some cases, technical data.

Risksoft has maximised the potential of BowTies by firstly fully quantifying them, secondly displaying extra key information on them, thirdly colour-coding key information and fourthly allowing for full customisation.

Using BowTie RS, robust risk management BowTie diagrams can be created in a matter of minutes in four easy steps

(1) Define a hazard, a risk event, threats and consequences
BowTie Step One
  • In the example above, we have defined our hazard as an aircraft flying at altitude, which, under certain circumstances, could lead to a cabin decompression. One potential cause of cabin decompression is a bomb (a threat), and one consequence of cabin decompression is passenger loss of consciousness.
(2) Add a first layer of risk control
BowTie Step Two
  • To mitigate against the terrorist threat and prevent decompression, one method is to screen/vet passengers (a barrier). Should the cabin decompress, we can minimise loss by deploying oxygen masks (a recovery measure). We have carried out proactive and reactive risk management.
(3) Scrutinise your risk controls
BowTie Step Three
  • All risk controls are subject to potential failure, depending on quality, and if they do fail, your threats and consequences can proceed, leaving you at high risk. BowTies allow you to identify weaknesses (escalation factors) in controls. Here, staff may be ineffective at screening passengers, and oxygen masks may fail.
(4) Add a further layer of robust risk control
BowTie Step Four
  • Having identified weaknesses in your initial layer of control, BowTies allow you to add a further mitigating layer of risk control. In the example above we can provide staff training to improve passenger screening and we can carry out maintenance on oxygen masks to ensure they will function when required.

With BowTie RS, you can achieve some truly amazing risk management, project management and business management results including....

Assessment, control and communication of....
  •  All business and enterprise risks
  •  Operations and output
  •  Opportunities
  •  Compliance, regulation, legislation
  •  Finances
  •  Strategies
  •  Environmental interaction
  •  Quality and product development
  •  Health and safety
  •  Targets
Brainstorming, analysis and identification of....
  •  Business weaknesses
  •  Risk sources/ hazards (HAZID)
  •  Risks and top events
  •  Risk causes and threats
  •  Risk consequences
  •  Escalation factors
  •  Risk controls
  •  Gaps (Gap analysis)
  •  Layers of protection analysis (LOPA)
  •  Tolerability of risk (TOR)
Management, monitoring and reporting including....
  •  Real time live risk monitoring
  •  Risk register
  •  Fault scheduling
  •  Document management
  •  Project and task management
  •  Business continuity
  •  Consequence to threat modelling
  •  Microsoft Excel import and export
  •  Risk matrix/ matrices
  •  Risk communication and reporting to all levels

Risks in BowTie RS are structured hierarchically for single users through to multi-user, multi-location organisation-wide collaborations creating tightly controlled, powerful, accessible and effective enterprise risk management

Six layered risk categorisation

Bowtiw RS risk organisation
  • In any risk management plan, effective structuring and categorisation of risks is essential for proper analysis and control. BowTie RS categorises risk events (BowTies) in six levels where individual risk events culminate up the organisation tree: (1) Company - overall company risk, (2) Organisation Unit - risk in any location, team or domain, (3) Enterprise level - risks in e.g. operations, strategies, finances, compliance or opportunites, (4) Category - an individual risk type, (5) Subcategory - an individual risk subtype, (6) Risk event - the specific BowTie itself

Multi-platform

Multiplatform BowTie software
  • BowTie RS is multi-platform. This means the software functions on all commonly used devices: PCs, Macs, Laptops, Notebooks, Tablets, Smartphones. This includes all Apple (iOS), Windows and Android devices. To achieve multi-platform status and functionality, BowTie RS software runs on your internet browser: Safari, Chrome, Firefox, Opera, Internet Explorer, Maxthon. The software will run exactly the same on any device or any browser meaning you do not need to purchase/ install hundreds of copies of the software, which is useful for large enterprise teams.

Multi-user, multi-location collaboration

Bowtie software collaboration
  • BowTie RS is cloud based software - either ran directly from secure Risksoft servers, or in your internal network. We recommend cloud based hosting as you get instant access to software updates and you can leave data management up to us. Being cloud-based software as a service (SaaS), you and anyone in your team can access BowTie RS wherever you/they are on any device, making collaboration extremely easy, no matter how big your team is. No more need to be in the same location - anyone with permission can access your BowTie RS system.

 

Maximise Gain Minimise Loss Increase Value Promote Efficiency Identify Weaknesses Improve Processes Strengthen your Business