Dyadem, the provider of Risk Lifecycle Management announced last week that it has launched a new enterprise risk lifecycle management software for process industry that helps process manufacturers mitigate and monitor risks across their organizations.

The new RLM helps organizations indentify and prioritize risks that are often unaccounted for with spreadsheet- or clipboard-based risk management plans and also enables communication and collaboration across the enterprise when assessing hazards, modifying existing procedures and developing best-practices.

All incident management actions are tied to a common framework to ensure that information is shared across divisions and facilities as well as carried forward from one assessment to the next. This continuous improvement process is then based on common language and processes and best practices can be easily communicated and implemented. The enhanced visibility and automated reporting functions ensure compliance with government mandates and industry regulations.

Even though the current solution is very valuable, it still lacks the proactive response management which we expect from a nice suite of risk management. I think another improvement point for the future is to enable this software with the kind of functionalities from response management software (e.g. Kinaxis)

What do you think?