Methods

Key Features and Benefits

The key features of RiskAnalytica’s risk management framework (as a valuable decision making process aid) include:

Flexibility, customization and adaptation: While maintaining causality and strict quantitative logic across computations, our approach encourages the incorporation of expert input and of decision makers risk preferences. These are core features of model updating and reflect the team orientation between RiskAnalytica and its clients.

Incorporation and Anticipation: The methodology incorporates the objectives of all participants in the system (different business units, market, government etc.) and their interrelationships. In this way, the problem solving process is addressed holistically, allowing for all possible outcomes and contingent actions to be considered. The methodology will:

• Incorporate how diverse points of view are impacted by the action of another and show the quantitative modeling of the ways in which they respond to the various development and business challenges before them.
• Anticipate the response of other participants and identify common grounds for action. This creates the premises to understand the wider impact zone of changes and create the proper reaction.

Emphasizes Commitment to Continued Action: While underlining the necessity of management to be supported by accurate, consistent and relevant information, the approach also emphasizes the role of management in taking continuous action towards rewards and away from risks. It benchmarks and values different decision options which are available through time.

Recognizes the various solution: No single (point) predictions are constructed, but rather regions of optimal solutions, reflecting the motivations and actions of all participants are considered.

“Divide and conquer” process to deal with complexity: This allows for the reduction of complicated problems within social sciences to be reduced to their fundamental components and modeled in a way consistent with those in theoretical physics.

Facilitates a unified knowledge structure: Acting as a communication platform, capable of sharing information among the individual operational units (internally), and among the stakeholders (externally) in a way that emphasizes relevance and action.

Assesses and Evaluates: Supports the measurement of key performance indicators by remodelling the movement of risk and reward regions against actual outcomes, taking into consideration resource constraints. Assesses and evaluates the necessary degrees of freedom or flexibility required in the application of different business interventions.

RiskAnalytica has developed a proprietary, in-house software application allowing the mathematical modeling of multiple scenario analysis to be conduced in a high quality format. Our risk graph engine allows users to view multi-dimensional representations (referred to as cubes) and provide the most expressive visualization of a user’s challenges and solutions. The results of the simulation will be available in several forms, including on-screen tabular forms, Excel compatible worksheets, on-screen graphics, XML compatible format data, generation of HTML-reports for viewing/printing by means of standard Web-browsers, JPEG and/or GIF formats.

Benefits

In the quest to bring its clients the most realistic and visually comprehensible solutions to their problems, RiskAnalytica employs a wide set of modern technologies and instils the custom of knowledge networking within clients’ organization. The chief benefits offered by our approach include:

RiskAnalytica is more than a solution provider; it is a partner: By providing flexibility and customizing our services, we work together with the clients to fulfill the common goal of achieving superior results

Formulates a dynamic, realistic picture: By taking into account the perspectives of the various components of the system (along with their expected actions), our approach allows the building a realistic and dynamic representations of the problems to be possible.

Creates the basis of a disciplined, long term oriented managerial approach: Our framework is created as a management guidance solution for clients determined to realize their potential rewards, rather than just finding a solution to a particular problem. The results of extended analyses covering periods of two or three decades makes it obvious why a shift toward a long term focus is often an absolute requirement and continuity is critical when devising strategy

Facilitates organizational alignment both at the internal level and with key external stakeholders: Our solutions provide a comprehensive management of resources within (and externally to) the organization and aim towards a global optimization rather than to multiple local optimizations

Manages complexity in an effective way: Due to the interdisciplinary and scientific fundamentals of our approach, the complexity associated with the social systems are sub divided within a series of smaller systems modeled and analyzed within our framework, thus allowing users to manage it effectively

Enhances communication and operational effectiveness: Interconnectedness to our communication platform fosters coordination and knowledge dissemination across the organization and ensures transparency by using a common language

Measures risk and rewards, improves performance measurement: RiskAnalytica possesses a very solid framework which quantifies the risk and rewards, allowing informed decisions with the ability for performance evaluation to be made. This entitles delegation and decision implementation in a way which supports the constrained resource utilization decisions that managers are required to make and provides a basis for justification to stakeholders

Makes understanding and presentation easier: A critical success factor for a risk management driven approach to decision making consists of users’ ability to visualize their challenges and decision outcomes. By expressing the results in a form that is easily intelligible, it leverages the process of communication and ideas sharing