Thursday, 26 July 2012

Fortescue Metals Group selects Active Risk Manager for Enterprise Risk Management

Active Risk announced that Fortescue Metals Group Limited (Fortescue), one of the largest iron ore producers in the world, has selected its award-winning software Active Risk Manager (ARM) for enterprise risk management across its organizsation. Fortescue, based in Australia, is regarded as a major new force in iron ore.

ARM was selected after Fortescue performed an in-depth evaluation of four different risk management products. ARM will be used by Fortescue to proactively identify, understand, manage and plan the mitigation of risk across all its operations and to provide dynamic information for decision making.

Geoff Harry, Group Manager - Risk at Fortescue said, “We chose Active Risk as the people there clearly demonstrated an in-depth knowledge of risk management in terms of what it is and how valuable it is to an organization. A further reason ARM was selected is that there is a defined development pathway for the product. This combination of risk management knowledge, a proven technology platform and a way forward for the future made Active Risk Manager the first choice for Fortescue.”

Active Risk Manager is being implemented by Fortescue at corporate and individual business unit levels in order to provide visibility of the enterprise risk profile and to drive risk mitigation actions. The reporting tools within ARM will be used to further promote visibility of risk information across the enterprise to ensure performance.

Loren Padelford, Executive Vice President and General Manager at Active Risk commented, “As a leading player in its field Fortescue understands the importance of using Enterprise Risk Management to underpin outstanding business performance to build value for the organization. Our customers tell us that ARM makes the risk management process less complex by focusing on six core steps – identify, analyze, control, monitor, improve and report. This drives involvement within businesses and delivers senior management the relevant and timely information needed for strategic decision making. We are very pleased to welcome Fortescue to the growing community of ARM users in Australia and across the World.”

ARM customers include Leighton Contractors, US Air Force, London Underground, NASA, Rio Tinto and EADS.

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