Methods

Overview of General Approach

Overview of General Professional Service Approach

In order to achieve its high level of service, RiskAnalytica follows a disciplined workflow along with a delivery framework. In general, a seven point process is employed consisting of:

1. Defining the proposed activity (project, decision, forecast etc.) along with the various perspectives (which are involved within the system). This allows the goals along with the definition of success (satisfaction of measurable objectives unique to each perspective) to be defined in a manner which is unique to the specific project but comprehensive enough to be represented within the framework;
2. Identifying and Mapping the cause-and-effect relationships between the various business or organizations (perspectives), allowing the connections between them and their immediate environment to be understood. Such mapping will in general produce a cause-and–effect network;
3. Determining the various gauges which are used within the individual perspectives to measure their environment (e.g. the economic and financial factors that feed into and out-of the cause-and–effect network);
4. Verifying the integrity and logical consistency of the developed network structure with client practitioners and subject matter experts;
5. Simulating the potential ways in which the different perspectives respond to the proposed activity while incorporating the relevant back-reactions (feedback loop response). Measurement of the possible outcomes is done using the various gauges identified previously;
6. Attributing the numerical outcomes with the source of input data, organisational units, as well as the relevant time periods in order to summarise the results.
7. Reporting of the results:
   1. consistently with the underlying logic and business framework;
   2. communicating the reasons for outcomes and subsequent decisions;
   3. visually using distribution charts, trend graphs, and outcome tables with relevant probabilities.