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Effective Risk Management
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"WFI searched for a risk management support tool for many years. With IRIS, we have finally found a product we can introduce to our clients and ensure they manage their risks effectively"

Michel Sabatier, Head of Consulting, WFI

"IRIS risk mangement software helped us to derive major financial and performance improvements. The combination of quantitative and qualitative functionality provides robust decision support and the ability to navigate through complex scenarios"

Mehender Rawat, Programme Manager, London Underground

"Recent research indicates over 70% of programmes are late, over budget or ineffective. Organisations employing effective risk management have reduced this failure rate significantly and gained a significant competitive advantage"

Colin Wheeler, Istria Technical Director and PMI Risk Liaison

"In developing the IRIS software product, Istria have successfully managed to integrate our leading-edge quantitative techniques within an extremely intuitive and user friendly application. With IRIS’s qualitative risk matrices, customers now get the best of both worlds"

Chris Marlow, European Sales Director, Palisade Europe

"The IRIS software tool provides us with a rigorous methodology and our clients are able to generate a competitive advantage through risk management"

Mark Cook, Managing Director, Persides Ltd

Company History

Istria was formed as an independent company in 1985. The company founders were quick to identify that, despite the best efforts of individuals and organisations, most organisations failed to deliver the benefits identified in the early stages of business planning. This was most visible in the failure of high profile projects, although similar issues could also be found with business as usual activity.

Istria identified that one the most fundamental reasons for these failures was the fact that organisations were consistently unable to identify the risks to a project or business activity at the outset of a project and, once identified, risks were not managed effectively.

Consequently, Istria built up a team of risk management specialists with a strong background in structured project management techniques, including:

  • PRINCE and PRINCE 2
  • Structured Systems Analysis and Design Method (SSADM)
  • Yourdon
  • Dynamic System Development Method (DSDM)
  • Project Management Methodology (PMM)
  • Project Management Institute (PMI)

Our risk management method has been developed and continually improved over the last two decades, receiving exceptional praise from organisations such as the Ministry of Defence, OCCAR, DHL, British Telecom, Transport for London, Scottish Hydro Electric and numerous local government organisations.

More details on previous client engagements are available here

Following the success of this method and the consultancy practice, Istria developed the IRIS (Istria Risk and Issue Support) software tool. This tool embeds all of the best practice set out in the Istria Risk Management Method and overlays robust statistical analysis using the Monte Carlo Simulations developed by Palisade in their @Risk package. First released in 2003, the IRIS software package has been updated and universally hailed as the most user friendly tool available on the market able to combine quantitative and qualitative analysis.