Ensure the organization’s controls are effective by comparing actual performance to the strategic goals of your organization. Using a set of flexible, best-practice tools and templates, document and manage your monitoring activities while setting goals, tolerance ranges and measuring progress over time with interactive KRI reporting and dashboards.
LogicManager’s risk monitoring capabilities link risk metrics, testing, and incidents that occur directly to the risks and controls they govern, helping you gain an understanding of where dependencies exist, which activities ensure your top priorities are met, and allowing you to better allocate time and resources to what matters most.
With LogicManager SMART Monitoring, your organization’s efficiency and consistency both get a big boost. Now you can identify and eliminate redundant non-value adding activities, automate sign-offs, and improve the quality of your business processes.
- Specific: linked to risks within business processes
- Manageable: roll-up from process to enterprise level
- Actionable: prioritize to align resources
- Relevant: connected to strategic imperatives
- Trending over time: show goal with tolerance vs actual
LogicManager links robust testing, incident management, issues, and business risk metrics collection to risks. That’s what we call SMART risk monitoring.
- Testing – verify effectiveness and efficiency of a control over risk.
- Metrics, KRIs & KPIs – measure what matters and link to performance management.
- Incident Management – respond to events and prevent incidents.
- Issues – determine a frequency that matches the volatility of the activity.
New LogicManager customers also have the option of asking their dedicated Advisory Analyst to recreate and mirror any risk monitoring and metrics collection processes that are already in place. We’ll replicate these items, including your business’s logo and branding, as a first step in the development of your LogicManager environment.
LogicManager’s BI risk reporting tool requires no IT training or experience, and is included with any subscription to our ERM software. Simply drag and drop the fields and filters you’d like to create, and the tool will do the rest.
Click to enlarge sample risk metrics and monitoring.