Online Project Management Systems

Looking for the right option through so many online project management systems available nowadays you might find ConceptDraw PROJECT Server a useful tool for managing the collaboration of different teams of specialists working on a few projects simultaneously. There are, though, always a risk in running any kind of business, that is why any project manager has to take them into consideration while planning any activity, focused on achieving the goals of an organization.

Enterprise risk management is widely used in many different kinds of business, including the processes and methods used by different organizations for managing the risks as well as seizing the opportunities that are related to the achievement of their objectives and goals. Any enterprise risk management provides a framework for risk management itself, involving an act of identifying some definite circumstances or events that are relevant to the organization's objectives, and so — opportunities and risks.

The mentioned events may be assessed in terms of magnitude and likelihood of impact, monitoring all the progress as well as determining the needed response strategy. With the help of addressing and identifying both opportunities and risks, the business enterprises create and protect value for their stakeholders, including owners, customers, employees, regulators and society in general.

Enterprise risk management can also be described as a risk-based approach used for managing an enterprise. It is known for providing the methods for integrating the concepts of an internal control, offering the strategic planning and addressing the needs of the different stakeholders — those, who want to understand all the possible risks within the organizations so they are managed the right way and on time.

The whole point of any enterprise risk management activity is to facilitate the discussions about the big risks as well as how to take care of them not getting in more trouble. Such facilitation can be done by providing everyone, involved in completing the tasks within each of the projects, with a useful application, such as ConceptDraw PROJECT Server one, known to be the best tool among lots of other online project management systems.

Pic 1. Online Project Management Systems

There are lots of enterprise risk management frameworks, with help of which it is easier to identify, analyze, respond to as well as monitor both risks and opportunities within the external and internal environment that are facing the enterprise. It is very important for each project manager to select the needed risk response strategy for some specific risks that were analyzed after being identified on time. There may be chosen any of the following strategies: to exit the activities that may lead to the risk rising, to take an action for reducing the impact or likelihood related to some risk and other.

There always may be selected the alternative actions, such as considering and deciding other steps taken in order to minimize the risks. Transferring the risk to someone else or sharing a portion of the risk with other specialists who might be better at solving some particular problem may be a way out of the complex situations. Although, no matter what changes should be done, it is important to find someone who can finance them so solving the ongoing problems do not influence on the work within the projects, so such issues do not interfere with the other processes.

At the same time, sometimes it is necessary to simply accept the situation as sometimes when no action is taken for a reason of a high cost of the decision that should be made, it leads to investing that money into something else, such as some other project. Monitoring can be performed by management as part of its internal control activities. Thus, a review of some analytical reports or management committee meetings may be held with the relevant experts in order to understand whether the chosen risk response strategy works and so if the objectives are about to be achieved.

There are a few components within the enterprise risk management activities, such as Objective Setting, Internal Environment, Event Identification, Risk Response, Risk Assessment, Control Activities, Monitoring and Information and Communication. Running your own business as well as managing the projects it is important to take such important things as risks which may occur into consideration.

There are a few methods used in enterprise risk management. First of all, it is important to identify and to characterize all the potential and real threats. Assessing the vulnerability of the critical assets to the specific threats is also what needs to be done the sooner the better. Determining the risks, such as the expected consequences and likelihood of the specific types of attacks on specific assets, identify ways to reduce those risks, prioritize risk reduction measures.

The International Organization for Standardization (ISO) identifies the risk management as the activity focused on creating the value, as the resources expended in order to mitigate risk ideally should be less than the consequence of inaction. The mentioned activity should become an integral part of any organizational processes, especially in connection with solving the problems and completing the tasks within some project ones.

Being an important part of any decision making the process at all the stages of managing the projects, the enterprise risk management is what can help address any uncertainty as well as the assumptions, being based on the best available information which should be provided by the managers who deal with such issues within an organization. As a structured and systematic process, any enterprise risk management should be tailorable and should take all human factors into account.

For managing all the people involved in the processes of solving the problems within each of the ongoing projects, it is important to have one of the available nowadays online project management systems, such as ConceptDraw PROJECT Server.