The more integrated your risk management is, the healthier your business. Isolated, stand-alone tools don't give accessible risk management that's embedded into your people's daily work. Risk management is most effective when the people delivering the work also own the risks. i-lign lets your people register and manage risks and escalate risks that need to be dealt with at a wider organizational level. Your people can register a risk at any level: risks at a strategic level, risks in programmes of work, and project level risk.
Formal Risk Management in i-lign is based on the International Organization of Standardization’s international risk management standard (ISO 31000:2009). The standard steps for risk assessment of Identification, Analysis, Evaluation and Treatment (as defined in ISO 31000:2009) have work-flow built into the system, as well as support for standard measures of likelihood, consequence and risk level. The ISO standard recognizes that organizations' risk management varies depending on their particular needs, objectives and processes. The Risk feature in i-lign is built with flexibility in mind and the functionality allows organizations to align with their own processes.
Adopting i-lign also provides value through Informal Risk Management. By following standardized processes in the tool, centralizing information, and reporting from a single source of truth organizations have a great deal of assurance that peace of mind that things are being well managed. Exceptional situations will stand out on dashboards and reports and can be escalated to senior management, providing great peace of mind without even using the more formal side of Risk Management.