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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