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Risk Analysis

VuRisk - Risk Analysis and Planning Tool

VuRisk is a revolutionary planning and decision tool which looks at business in a completely new way. Easy to use, its many applications include the direct analysis, understanding and management of all types of Risk.

What's special about VuRisk?

VuRisk is unique. Nothing else works the same way or provides the same benefits.

With VuRisk you quickly set up a simple, graphical model of your organisation together with its goals and other data. The tool then helps you make inferences you're unlikely to uncover any other way, such as the probability you'll succeed, the true risks to your goals, the most likely causes of success and failure, the items which are most pivotal, the greatest uncertainties you face, the number of possible single-point and multiple failures, and the best ways to deploy your resources for maximum benefit.

By experimenting with changes to the model you quickly discover ways to reduce your risks, or your costs, or both at the same time.

VuRisk uses a deceptively simple graphical interface reminiscent of a mind map. But under the hood is a uniquely powerful mathematical engine combining several leading edge technologies. It can calculate forward and reverse inferences, parameter sensitivities, the effectiveness of countermeasures, and it uncovers all possible failure-modes and determines success/failure causality. Its insight into an organisation is uncanny.

VuRisk is particularly powerful at handling incomplete information and uncertainty, and makes the best use of the data available.

And VuRisk is not limited to analyzing risk, it can bring similar benefits to most areas of planning, organisation, management, science or engineering.

But what exactly is VuRisk?

It's a combination of a Fault-Tree analyzer, a Bayesian Network analyzer and a Failure Mode analyzer in a seamless functionality that ensures the whole is much greater than the sum of the parts .

It's also the newest and most advanced in a series of Risk Analysis tools by Concept Laboratories, used by UK Treasury, HSBC, Abbey National, Federal Aviation Authority, UBS, Logica, AEA Technology and many others organizations worldwide.

Unlike other Risk Analysis tools, VuRisk is not constrained to a knowledge base. So it can even tackle jobs its designers didn't anticipate. Hard to believe? Just think of a spreadsheet or a software development system.

Benefits to you of using VuRisk

• Understand, Measure and Control the Risks to your project or organisation
• Communicate these risks to third parties in ways they will understand
• Reduce costs
• Measure the risk caused by ignorance and incomplete information
• Find ways to deploy your resources for maximum benefit
• Find the items which are most pivotal to your goals
• Find the probability you will achieve your goals
• Find the most likely causes of success and failure
• Find the greatest uncertainties
• Find all single-point and multi-point failures
• Improve decision-making processes
• Best of all, these benefits aren't limited to Risk Analysis. VuRisk brings the same functionality to most other areas of your business.

Applications

• Evaluating and minimising the risks of disaster to an organisation
• IT Security
• Finding and reducing the risks to a project
• Uncovering unforeseen threats to an organisation
• Actuarial determination of insurance risks and fee charges
• Minimising risk for a given outlay, or reducing costs with least increase in risk
• Examining a new product or policy for unforeseen problems and opportunities
• Evaluating and minimising the risks of lending money to an individual, enterprise or government
• Measuring and reducing a government's political threats
• Finding the effectiveness of the physical security in an organisation
• Evaluating threats to a bank caused by money laundering
• Minimising the likelihood that a hospital will be sued
• Determining the main threats to safety in a manned spaceflight
• Reducing the likelihood of a medical mis-diagnosis
• Auditing finances or security countermeasures
• Determining the level of risk a supplier is taking on from a customer
• Finding the likelihood of an insurance company defaulting
• Actually the number of applications is limited only by your imagination!

VuRisk runs under Windows 9X, 2000, NT, XP.