THESIS BowTie Risk Management Software

What is THESIS BowTie Risk Management Software?

A Bowtie solution for managing multiple risks

THESIS BowTie and THESIS Enterprise software solutions demonstrate and communicate potential threats to a business, ranging from safety-related hazards to security, business, healthcare and environmental risks. These types of risk expand the usefulness of THESIS to organizations that want to analyze other areas of their business, including potential risks that can cause financial or reputational harm.

Understanding Dangerous Risks

The use of THESIS is a proactive approach to bowtie for risk visualization. The versatile tool allows each user to take it one step further and ask "what else" can go wrong when the barriers put into practice fail.

The software facilitates integration with an organization's overall business model with built-in risk capabilities that define the hazards, consequences of analysis, and associated risks. This software allows you to take practical steps to identify and manage risks associated with hazardous materials and demonstrate that all necessary measures have been taken to reduce these risks associated with as low as reasonably practicable (ALARP).

In some cases, regulations are created that require the Bowtie methodology to be part of the required documentation associated with increased risk analysis. This helps regulators verify that all necessary measures have been implemented to further reduce the risk associated with ALARP and also help justify cost-benefit analysis.

THESIS Bowtie Method

THESIS conducts a user through a structured process to identify and record essential information about each risk encountered, the threats that can cause the release of that risk, its consequences, and the barriers necessary to reduce the risk associated to an acceptable level.

The method takes three basic steps:

Step 1: Ask logical and structured questions

For a risk assessment to be effective, the first line of thinking must be: what can cause harm to people? Are reasonable efforts being made to prevent this damage from occurring?

The most comprehensive method of THESIS is to ask these logical and structured questions to identify all the risks involved in an operation or installation (e.g., flammable or toxic chemicals that have the potential to cause fatalities). The same logic applies when using bowties for business risks: What are the risks that have the potential to harm business and lead to financial losses?

Step 2: Meet the target audience and expectations

Knowing your target audience and what your expectations are strongly affects the form and outcome of the THESIS BowTie methodology. The three possible key hearings that can affect the shape of a bowtie are the operators/managers, or the frontline employees who would be the victims of a major accident, the employees who maintain the associated barriers to avoid serious accidents, and managers who provide care and support to families in the event of loss; security professionals; regulators.

Step 3: Use a team of experts to create a bowtie diagram

As with all risk analysis methods, the right team should be in place. The team should consist of an experienced group of staff with specific practical knowledge and experts (e.g., technical, operational, managerial, process history) and bowtie facilitators (a regent and a recorder). With the right team in place, in an easier workshop environment, the bowtie approach can be followed in a logical way.

Helping your company or educational institution

Abs Group's experienced THESIS team can help organizations understand how to develop key performance indicators, management procedures, and competency programs using the Bowtie methodology and THESIS applications.

Areas where the risk management software solution can help your organization include:

• Enterprise risk management
• Business Continuity Management
• Integration of business and risk management systems
• Facilitating global coordination (web-based version)
• High-level risk identification (risk record) and risk assessment
• GAP analysis and audit
• Control management
• Document management
• Tracking of deficient and corrective actions
• As a complement to a security case; health, safety and the environment (HSE); or HSE impact assessment (HSEIA)
• Incident investigation
• Risk communication for senior management, employees and regulators

·         "Live risk" monitoring

System requirements:

Supported operating systems:

Windows Vista (32 and 64-bit)

Windows 7 (32 and 64-bit)

Windows 8.0 (32 and 64-bit)

Windows 8.1 (32 and 64-bit)

Windows 10 (32 and 64-bit)

1024 Mb of physical memory; It takes 2048 Mb to run BowTieXP comfortably.

200 Mb of free disk space.

For intensive use, more RAM and CPU speed are recommended.

Minimum screen resolution: 1024x768

BowTieXP can interoperate with all versions of Microsoft Word and Excel.