Transforming enterprise risk management within Network Rail
Breaking down silos
Network Rail wanted our help to identify crucial messages and high level insights around risk, and share and communicate this information with key stakeholders and decision makers across the business in a collaborative way. With all their strategic risk information held only in disparate Excel spreadsheets, SharpCloud enabled them to break down silos so that they could easily identify and draw relationships between causes, consequences, controls, and improvement actions, in a quick and easy to understand manner. With this new found ability to map and interpret where there were interdependencies and commonalities, manual human error was drastically reduced.
"Getting senior leadership attention and enabling the organization to understand and manage the risks of achieving our objectives; for me SharpCloud is priceless."
Network Rail's achievements
How SharpCloud is helping to improve the visualization and communication of risk management across Network Rail
SharpCloud is providing a common platform to store and visualize all strategic risk information, enabling Network Rail to clearly identify and emphasize key dependencies and crucial discussion points. By visualizing key controls that appear in multiple risks, vital assurance can be provided to those control owners around whole organization deployment.
SharpCloud has revolutionized risk conversations by simplifying a complex and interrelated dataset, with easy to understand visuals customizable to different levels in the organization. The ability to understand where complexity exists enables Network Rail to take a holistic approach to risk management and break down silos.
SharpCloud's visual nature and appeal has helped to bring the business together through collaboration of linked risk information. This is resulting in wider industry recognition including winning awards at the ALARM Risk Conference and CIR Risk Awards, both for Best Use of Technology in Risk Management.
Where we are now and what the future holds
For Network Rail, SharpCloud's versatility as a data visualization platform opens more doors to improvement than risk management specialist tools. Using SharpCloud gives them the ability to integrate key information for more informed decision making, such as:
- assurance activities to inform control effectiveness
- change initiatives to the risks they are helping to mitigate
- bespoke data from other processes within their large organization, including outputs from cost and schedule risk models
Why use SharpCloud
- SharpCloud increased visibility and accessibility of data internally and externally, making it easier to identify gaps in information and improve the communication of problems, impacts, and solutions to stakeholders and across the organization.
- SharpCloud's visualization of complex interdependencies and their specific impact on strategy revolutionized risk conversations in Network Rail, helping break down silos and understand where complexity exists.
- The ability to use the underlying data to automate reporting processes, saved time and improved process efficiency.
- SharpCloud's ability to provide different lenses and views of key risk information aided problem solving and added value to help prioritize improvements to mitigate risks.
- SharpCloud’s simplicity, versatility, and integration with current processes made it easy to implement and leverage as an ‘add-on’.
- SharpCloud's visual nature and appeal helped bring the business together through collaboration of linked risk information, resulting in wider industry recognition and prestigious awards.