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Effective Risk Management
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"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

"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

"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

"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

"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

Further News from Istria

Istria chosen as Risk Expert for the Project Management Institute

PMI Institute

The Project Management Institute (PMI) has asked Istria’s Technical Director to be an official risk management expert on their behalf. Colin Wheeler joins as the UK Liaison for the PMI’s Risk Special Interest Group from January 2006.

Colin commented, "I am delighted to have been recognised by such a high profile organisation. The PMI represents the global standard in Project Management Methodologies and my selection as the Risk SIG further demonstrates the strength of the Istria Risk Management Method".

The PMI is the world’s largest community of project managers, representing more than 200,000 professionals in 125 countries. PMI professionals cover every major industry including, aerospace, automotive, business management, construction, engineering, financial services, information technology, pharmaceuticals, healthcare, and telecommunications. The Risk SIG is set up to promote best practice project risk management principles, processes, techniques and tools.

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Istria extends work at UK Passport Service

Colin Wheeler has been working as the Passport Project Risk Manager since April 2005. Following excellent results during the first phase of the project in which the UK Passport Service progressed a technically challenging project to produce biometric passports through OGC Gateway 4, Colin has been asked to continue his work until at least Q2 2006.

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Istria Release IRIS v2.5 Risk Management Software

Istria is proud to announce the release of version 2.5 of their industry leading risk management software, IRIS. IRIS promotes the attainment of strategic goals and objectives, provides vital Management Information for effective decision making and tackles uncertainty in planning and analysis. Specific features include:

  • Alignment of risk management activity with corporate goals and objectives
  • Dynamic Risk Matrices for improved visibility of risks affecting the corporate, divisional or project level of the organisation
  • Quantified risk exposure and robust decision support: Monte Carlo simulations and the @Risk package determine the financial benefits of implementing risk mitigating actions
  • Automated export of data to Microsoft Project
  • Secure Audit trail for Risk Management actions

Version 2.5 allows the user to configure the Risk Matrix (e.g. 5x5 or 3x3) and to send email notifications that actions are due or a risk trigger date has been reached. Other benefits of the new version include the ability to set up controls to generate actions that will recur at regular intervals, as well as simplified and faster configuration of the software.

IRIS v2.5 is available as a desktop, client server or web-based version.

Transport for London upgrade to IRIS v2.5

London Underground

Click here to download the case study (Adobe Acrobat Required)

Mehender Rawat at Transport for London stated "We have been using IRIS for over a year and have been overwhelmed by how user friendly and intuitive the tool is. The combination of quantitative and qualitative functionality provides robust decision support and the ability to navigate through complex scenarios. London Underground has derived significant financial and performance improvements as a result of our improved risk management framework"

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