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According to industry leading research organizations, such as Gartner and Forrester, IT leaders that have adopted the theory of "Portfolio Management" for managing their own IT have been able to see savings of between 10% and 50% in their first year of adoption. As a result, more IT leaders than ever are now rushing to apply such practices to help stem the heavy flow of money into their biggest financial sink-hole, IT. Risk Portfolio Management is the process by which an enterprise manages its Risks, so as to avoid future costly investments and Incidents. Armed with the tools to facilitate such a process, IT leaders can now track and manage their Risks, proactively. This strategic approach to managing IT takes the view that proactive management of Risks will actually drive long term costs down faster than the traditional approach of dealing with issues as they arise. With RPM becoming a natural and effective way to manage IT organizations, the industry is looking for solid RPM tools to help identify, track, and manage Risks effectively.

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In addition to the drive to streamline and reduce costs while raising productivity, there are other major drivers accelerating Risk Portfolio Management adoption include:

  • The need for Risk related knowledge to respond to regulatory mandates for data privacy, such as the Sarbanes-Oxley Act and the Health Insurance Portability and Accountability Act;
  • Pre-contract negotiation and post-outsourcing monitoring; and
  • RPM's eventual melding with other portfolio management disciplines, such as Product Portfolio Management, Project Portfolio Management, Resource Portfolio Management, Service Portfolio Management, and much, much more.

KnowIT for Risk Portfolio Management

The KnowIT platform is ready to act as your Risk Inventory and Management solution. It's Risk Management module allows enterprises to catalog and track each and every Risk in their organization. With the KnowIT platform, enterprises can now:

  • Understand and manage all Risks across all organizations within the enterprise, regardless of region
  • Track critical Risk factors, such as severities, impacts, complexities, categorizations, and much more, allowing your enterprise to easily understand what Risks are most important to it and its stakeholders, world-wide
  • Manage and publish Risk strategies, allowing stakeholders, world-wide to easily see and understand the intent for each Risk
  • Track and manage Risk dependencies, between Risks and other Risks, Projects, Products, Assets, Resources, Organizations, Locations, Documentation, and much, much, more
  • Track and manage Risk lifecycles and their related states
  • Easily create and publish reports that help dimensionalize your Risk portfolio according to what is important to its stakeholders
  • Easily chart and graph characteristics of your Risk portfolio, without leaving the platform
  • See elaborate visualizations that highlight dependencies that are critical for managing your portfolio
  • Track and manage your Risk costs by understanding costs of the Risks, themselves, and associated dependencies that are typically hidden from conventional management practices

With KnowIT, you and your enterprise can now see what Risks it has, world-wide, and can easily access and manage critical information that helps manage its Risk related costs, productivity, quality, and ultimately its revenue.

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