Evolutionary Risk Analysis (ERA)
Inspired by biological evolution, we take into account the unique evolutionary history of an enterprise’s risk system and determine the likely emergent and evolving risks. We analyse characteristics of risks to determine the families of evolved risks and the key characteristics that are systemic.
Neil Allan describes how we classify risks according to their DNA, on Risk TV.
By recording risk characteristic data, and using the ERA tool we can automatically derive an evolutionary tree that best explains the evolution of the input risks – leading to predictions of where in the system a new risk is likely to emerge.
The tool allows managers to spot systemic risks in their organisation. We offer a number of ways to analyse and visualise the results, including some unique dependency mapping options, enhancing companies' resilience by allocationg the right resources to tackle emerging risks.
Interested? Let us know!