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ROMS Manual

1. NOTE ALWAYS ENSURE YOU SAVE FREQUENTLY AS YOU MOVE THROUGH THE ROMS PROCESS NOT JUST AT THE END OF EACH STAGE BUT DURING EACH STAGE WORKSHOP PARTICIPANTS WILL BE UNHAPPY IF YOU LOSE THE ONLY RECORD OF THEIR DELIBERATIONS ROMS OPERATIONAL ROI Ri Chapter 6 Page 45 of 50 S iJ 3 Ti ROMS Risk and Opportunity v Management System Additional Glossary Bias the distortion of risk measures as a result of the individual attitudes options and perceptions of stakeholders Brainstorming an interactive technique for identifying risks and opportunities that relies upon group dynamics to elicit ideas Its success depends upon the breadth of experiences and perspectives within the brainstorming group and the skills of the facilitator in combining them effectively Bug Listing is to list things that tend to bother you on a day to day basis that could potentially interfere with your decision outcomes Checklist is a standard checklist of opportunities and risks that can typically affect your contracts decisions outcomes Normally constructed from past experience of similar contracts and decisions and is the simplest method of risk identification Consequences the impact of an opportunity or risk on business objectives expressed qualitatively or quantitatively in terms of costs time injury quality image morale etc There may be a range of potential outcomes associa
2. Click Next to continue or Cancel to exit Setup However if this does not occur browse to your CD ROM drive using Windows Explorer and double click Setup exe then follow the instructions on screen NOTE VISTA USERS MUST HAVE ADMINISTRATIVE PRIVILEGES TO INSTALL ROMS IF YOU CANNOT INSTALL ROMS PLEASE CONTACT YOUR IT SUPPORT TEAM ar View Favorites Tools Help Qu Q 2 autorun inf ROMS ico Description ROMS Setup Company Cell media File Version 0 0 0 0 Date 105 MB J My Computer 4 iG Setup ROMS Bf cul x ui Welcome to the ROMS Setup Wizard This will install ROMS 1 0 0 0 on your computer It is recommended that you close all other applications before s7 continuing Click Next to continue or Cancel to exit Setup 2T INSTALLING Chapter 3 Page 13 of 50 Dno ement ne 47 INSTALLING Chapter 3 Page 14 of 50 The USB Key ROMS requires USB Key to be inserted into your computer every time ROMS is NOTE DO NOT INSERT THE USB KEY UNTIL ASKED TO DO SO You must look after this USB Key Only one Key is provided with each ROMS licence It can be replaced once only at a significant cost When asked to do so by the ROMS installer insert the USB Key into your USB Drive 12 Setup ROMS zici x Installing Ro Please wait while Setup installs ROMS on your computer
3. Once you have entered the relevant information checked it confirmed it with all workshop participants ROMS will allow you to progress to the next step NOTE ALWAYS ENSURE YOU SAVE FREQUENTLY AS YOU MOVE THROUGH THE ROMS PROCESS NOT JUST AT THE END OF EACH STAGE BUT DURING EACH STAGE WORKSHOP PARTICIPANTS WILL BE UNHAPPY IF YOU LOSE THE ONLY RECORD OF THEIR DELIBERATIONS Step 2 Choose a level The purpose of step 2 is to decide the level of complexity you wish to employ in managing your risks and opportunities mus ROMS Operational unsaved ROMS ROMS GORA Step 1 Step 2 Step 3 Step 4 Step 5 Step 6 Step 7 Step 8 Choose a Level This step will help you select ae appropriate level 10 manage your risks and opportunities By answering the following questions ROMS wit recommend a level ranging trom 1 4 Simple Complex Choose a level you are comfortable with using ts advice and your own experience Click the columa headings for help Your choice is made by clicking on the relevant level under the Chosen Level column Your chosen level will be highlighted in green ROMS OPERATIONAL Chapter 6 Page 35 of 50 ent System Pago 47 ET ROMS OPERATIONAL Chapter 6 Page 36 of 50 J H Step 2 Choose a level continued Choosing the correct level is an important decision because it will determine how much time expertise and resources you will need to invest in
4. tr There is no need to enter information into column 5 Level This is done automatically by ROMS using a simple risk matrix which can be accessed by clicking on the Level column heading It is important to appreciate that the risk matrix used to calculate the level of risk reflects a standard risk appetite and that can be customised to reflect your risk appetite in consultation with cell media There is no need to enter information into column 8 rank This is done automatically by ROMS using an algorithm which takes account of the automated Risk and opportunity level and your selections of Imminence and Controllability This algorithm is fixed and cannot be changed The ranking will vary from 1 to 45 1 being the risk or opportunity which is ranked highest and 45 being the risk and opportunity ranked lowest It is important to realise that this ranking does not reflect the level of risk this is done is the column headed Risk and Opportunity level but the importance of dealing with that risk and opportunity in your action plan step 6 To understand what is required in each cell click on the relevant column heading on the top of the form This will open up a help screen as in previous steps with further information and any required tools techniques and advice that may be necessary to complete the form NOTE DEPENDING ON YOUR CHOICE OF LEVEL IN STEP 2 THE ROMS HAS SELECTED CERTAIN TOOLS AND TECHNIQUES APPROPRIATE
5. ROMS ROMS Operational unsaved Roms BEE S G Step1 Step2 Step3 Step 4 Step5 Step6 Step 7 Step 8 Monitor Review and Learn NOTE ROMS WILL ONLY ALLOW YOU TO PROGRESS THROUGH STEPS IF THE RELEVANT INFORMATION IN EACH STEP HAS BEEN ENTERED 2 Step 1 Enter the project information The purpose of step 1 is to enter some basic reference information to create a record of your decision problem or task The screen is shown below ROMS Operational unsaved Roms CEEE 05 9 amp Step1 Step 2 Step3 Step 4 Step 5 Step 6 Step 7 Step 8 Enter the Project Information The ROMS requires some basic information about the decison task or problem being addressed in workshop This data wil act as a future reference point 10 store and recall information Click the row headings for help Enter information into each cell by clicking on it You can copy and paste from other documents to ROMS by using keyboard shortcuts which generally are CUT Press Ctrl amp X COPY Press Ctrl amp C PASTE Press Ctrl amp V To understand what is required in each cell click on the relevant row heading on the left hand side of the form This will take you to the help for that particular row with one or two options a The Help dice provides a simple explanation of what is required in each cell Ai The Tools dice provides information and guidance on tools
6. ha 9 TI Step Identify risks and opportunities continued ROMS has automatically inserted your 5 common objectives into the first column of this form As on previous forms you must enter information into each column starting with the left hand column Risks and opportunities and working towards the right hand column Ways risks and opportunities arise The final column Ways Risks and Opportunities Arise is optional as indicated by the asterisk but it is recommended since it will help with the identification of appropriate controls later in the ROMS process To understand what is required in each cell click on the relevant column heading on the top of the form This will open up a help screen as in previous steps with further information and any required tools techniques and advice that may be necessary to complete the form NOTE DEPENDING ON YOUR CHOICE OF LEVEL IN STEP 2 THE ROMS HAS SELECTED CERTAIN TOOLS AND TECHNIQUES APPROPRIATE TO YOUR CHOSEN LEVEL OF COMPLEXITY As in all steps you can navigate this help section by clicking on the blue arrow at the top right hand corner of the screen or by clicking on the bread crumbs of each step in the top left hand corner of the screen Once you have entered the relevant information checked it confirmed it with all workshop participants ROMS will allow you to progress to the next step 8j Step 5 Assess and prioritise The purpose of step 5 is to help you assess th
7. Before you start there is some basic background information you will need to know about the ROMS LJ Can anyone use ROMS Yes ROMS minimises jargon and uses award winning multimedia technology to make the process of risk and opportunity management e Easy to follow even for those with no knowledge of risk management e Easy to understand even for non English speakers e Enjoyable images words and text enliven the process e Engaging research indicates that people retain and understand considerably more when using multimedia compared to computer and paper based systems e Interactive advice can be requested at any stage of the process e Flexible adaptable to the needs of the most experienced to the most inexperienced managers and workers e Self pacing you dictate the pace of the process e Efficient obviates the need for an expensive facilitator What does ROMS do i ROMS is essentially a qualitative risk and opportunity management system which is supported by cutting edge quantitative risk analysis software Many companies make the mistake of diving straight into complex quantitative analysis without first conducting a simple qualitative analysis and filtering out those risks and opportunities which can be effectively controlled using simple qualitative methods The result is overly complex and meaningless models which are clogged by risks and opportunities which cannot sensibly or accurately be quantified ROMS over
8. Version 1 0 0 3 Risk and Opportunity Management System ROMS Copyright 2008 by Cell media Software Disclaimer Cell media does not offer financial or risk management advice some formula and or calculations in our ROMS software product may not meet your personal or business circumstances governing law or taxation rules The ROMS software product is provided by Cell media as is and with all faults Cell media makes no representations or warranties either expressed or implied Subject to law with respect to the ROMS software product its contents algorithms quality performance merchantability fitness for a particular purpose safety suitability lack of viruses inaccuracies typographical errors or other harmful components of the ROMS software product You are solely responsible for e determining whether the ROMS software product is compatible with your equipment and other software installed on your equipment and protection of your equipment and backup of your data At no time will Cell media or their resellers be held liable to the customer or any other party for direct indirect special incidental consequential or other damages resulting from e any defect or omission in the ROMS software product or related items or information provided e the loss of use data or profits loss of business or anticipated profit whether in action of contract negligence or other action arising out of or in connect
9. on yeur dedicated peoyect file on an intranet site This will enable others in your company to learn frome your experiences and vice versa The simplicity of checklists has made the most commonty used approach to idertitying risks aed opportunities However there are ew things you must take into Take great care in transterring rsks and opportunity checklists between difierent projects because every project is unique If is highly unilldy that amy Checklist will comprehensively cover all risks and opportunities associated with Checklists are very useful when you have a wealth of experience from the past which means they are most suited to standard and routne decisions Similarly checkfists can constrain your thinking when making unusual and on rovtine Gecisions that you have not dealt wath before Checkdsts are merely memory grompts that should encourage you to look tsrther into the potential risks or opportunities that could occur Other techniques should be ved to determine how and when risks could occur Roa Tg it ROMS OPERATIONAL Risk ang Chapter 6 Page 37 of 50 capa SS A ROMS Risk ang Managen MPOrtunity Ment System a 7 ROMS OPERATIONAL Chapter 6 Page 38 of 50 TI Sten 2 S Choose level Continued El As in all steps you can navigate this help section by clicking on the blue arrow at the top right hand corner of the screen or by clicking on the bread c
10. It doesn t matter what type of business you engage in what level of the company you operate at or what department function or region you operate in This simple user manual will help you get the most out of ROMS and start to use it quickly ROMS is designed to be interactive and self explanatory It uses unique multimedia technology to guide you step by step through the risk and opportunity management process and thus there is no need for a highly detailed and complicated guidance manual The aim of this guide is simply to help you access this advice easily and quickly How to read this guide If you are learning to use ROMS for the first time then read this guide from beginning to end to learn how to do everything in ROMS If you have used ROMS before and you are remembering how to perform a specific task then just use the table of contents to locate specific advice INTRODUCTION Chapter 1 Page 5 of 50 Risk ang o port m 7 zd Chapter 2 Topics covered Background Information Can anyone use ROMS What does ROMS do What can use ROMS for Can use ROMS alone What is ROMS philosophy What is unique about ROMS What is involved in the ROMS program Page Page Page Page Page 8 Page 8 Page 9 Page 9 Does ROMS comply with international standards Page 10 Who was involved in creating ROMS Page 10 Where in our business can ROMS be used Page 17 Background Information
11. Page 18 Page 19 Page 21 Page 23 Page 24 Page 25 Page 25 Page 28 Page 29 Page 29 Page 34 Page 35 Page 38 Page 39 Page 41 Page 42 Page 43 Page 44 Page 44 Page 45 Page 47 Chapter 1 INTRODUCTION Topics covered Introduction Page 5 Who should read this user manual Page 5 How to read this guide Page 5 Introduction Whether you are working for a large company or a small company you will make decisions solve problems and undertake tasks that involve risks and opportunities for your business These risks and opportunities need to be managed effectively to protect and enhance your profitability and competitiveness your reputation your employees and the local and wider community and the environment ROMS is designed to help you do this in a simple systematic and consistent way using leading edge research and practice from many high risk industries You can use ROMS on a single computer or as part of a large corporate network with hundreds of computers around the world or in many other scenarios ROMS is designed to be flexible and simple to use and its unique multimedia format will guide you step by step through the risk and opportunity management process Who should read this user manual This user manual is written for anyone in an organisation who has responsibility for making decisions solving problems undertaking tasks or creating business plans that could involve significant risk and or opportunity
12. ROMS Finishing installation KEYLOK Security Key Installer Bj xj Install Success Please attach the USB dongle and let the New Hardware Wizard run Inno Setup The following Hardware Wizard screen will appear Found New Hardware Wizard Welcome to the Found New Hardware Wizard This wizard helps you install software for USB Dongle Software Protection Device If your hardware came with an installation CD or floppy disk insert it now What do you want the wizard to do Install the software automatically Recommended Install from a list or specific location Advanced Click Next to continue lt Back Cancel Select Install the software automatically Recommended and then follow the instructions on screen REMEMBER DO NOT INSERT THE USB KEY UNTIL ASKED TO DO SO To open ROMS simply click on the ROMS exe via the Windows Start Menu e DO EE Windows XP E ES G or by browsing to the ROMS install directory in Windows Explorer o o s 8 s Bas Documenta sections AutoUpdate Cell media Cell media ico install Flash KL2DLL32 DLL nokey swf nwkl2 32 dll W 7 EB 9 BP A 1OMS exe ROMS swf Splash swf uninsOO0 dat uninsOO0 exe USBKey INF usbKeylnst Alternatively you can double click directly on a previously saved roms file from Windows Explorer bj Indust
13. Educational interface ROMS Educational J Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 C Introducing ROMS NOTE THIS ENTIRE SECTION OF ROMS IS NARRATED SO PLEASE ENSURE YOU HAVE YOUR AUDIO DEVICE TURNED ON 4 tc Tool Bar Along the top of the window is the tool bar ROMS tool bar icons are similar to icons used in other programs The buttons on the tool bar are the easiest way to find your way around and interact with the ROMS program The buttons and their function are listed below The Home button takes you back the Main Menu screen The More Information button takes you to the More Information screen for the Chapter that you are currently viewing For example ROMS Educational 4 amp Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter5 O C Preparing for ROMS Preparing tor ROMS gt More information i Information For advice on what an effective policy should consider and the supportive structures which will build the ROMS cuRure within the enterprise click the following MN Tools Techniques amp Advice gt Creating commanicating a risk and opportunity masagement policy gt Developing surement More Information screens are explained later in this chapter D If the Chapter you are currently viewing does not have a Information screen this butt
14. Forward button takes you to the next chapter in ROMS Educational If you are at the end of ROMS Educational the Forward button will be greyed out and inactive e bs Tool Bar Continued Along the top of the screen you will see various chapters ROMS Educational a Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 C O Introducing ROMS Each chapter provides information about the ROMS and how to use it By clicking on each chapter sub headings are revealed and by clicking on these you can access the information contained within wees ROMS Educational CEEE 74 4 Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 O C O O Introducing ROMS ROMS indicates your current chapter and subchapter by changing it from black to blue ROMS also names your current chapter or subchapter at the end of the tool bar in large blue letters ROMS Educational HH a Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 O O Introducing ROMS f Risk and On Chapter 5 Page 27 of 50 po P Chapter 6 Topics covered ROMS Operational Page 29 Tool Bar Page 29 Step 1 Enter the project information Page 34 Step 2 Choose a level Page 35 Step 3 Stakeholder consultation Page 38 Step 4 Identify risks and opportunities Page 39 Step 5 Assess and prioritise Page 47 Step 6 Action plan Page 42 Step 7 Monitor review
15. TO YOUR CHOSEN LEVEL OF COMPLEXITY As in all steps you can navigate this help section by clicking on the blue arrow at the top right hand corner of the screen or by clicking on the bread crumbs of each step in the top left hand corner of the screen Once you have entered the relevant information checked it confirmed it with all workshop participants ROMS will allow you to progress to the next step ROMS OPERATIONAL ROMS Chapter 6 Page 41 of 50 Les 47 Risk ang o i LL 7 ROMS OPERATIONAL Chapter 6 Page 42 of 50 i Step 6 Action plan The purpose of step 6 is to help you create an action plan which will help mitigate each risk and maximise each opportunity you prioritised in step 5 pues Unsaved ROMS Dann ROMS Operational GO QS Step1 Step2 Step3 Step 4 StepS Step 6 Step7 Step 8 Develop an Action Plan This step will help you develop an action plan to m gate the risks and maximize the opportunites and identity amy remaining residual nsks which may need further analysis This step should be completed in the ROMS workshop consutation with all key stikeholders present the column headings for help ROMS has automatically inserted your risks and opportunities in priority order using your rankings in step 5 Note that risks are listed in red and opportunities are in green It has also listed the common objectives
16. and techniques which you may need to get the information to enter into that cell These are links to further Help screens which you can click on to gain more information and guidance NI Occasionally an orange Tools dice will appear indicating further information and guidance NOTE THE TOOLS DICE WILL ONLY APPEAR WHEN FURTHER INFORMATION OR GUIDANCE IS NEEDED FOR EXAMPLE IT IS NOT PRESENT WHEN YOU CLICK ON THE ROW TITLE PROJECT NAME B Step 1 Enter the project information continue For example if you click on the heading Workshop participants key stakeholders the following help screen will appear was ROMS Operational unsaved Roms 74 059 amp Step1 Step2 Step3 Step 4 StepS Step 6 Step 7 Step 8 Enter the Project Information 1 gt Participants Key Stalehoitent _ _ Workshop Participants Key Stakeholders Enter the names of workshop participants here These are your key stakeholders Ore regeesentative is needed for each luy stakeholder identified in your stakeholder analysis Tools Techniques amp Advice D How to concuct a Stakeholder Analysis KI You can navigate this help section by clicking on the blue back arrow at the top right hand corner of the screen or by clicking on the bread crumbs of each step in the top left hand corner of the screen The bread crumbs are a useful way of always knowing where you are in the help menu
17. client or customer time costs and quality requirements etc e At an operational level it can be used to make decisions and resolve safety problems industrial relations problems security problems and environmental management problems etc e At a tactical level it can be used to assess project feasibility help companies quantify contingencies on tenders and negotiation with clients to achieve optimal risk allocations in contracts etc e At a strategic level ROMS can be used to develop business strategies and formulate business plans etc e At a policy level ROMS can help companies formulate policies regarding how it should respond to wider issues such as financial codes and regulations climate change environment occupational health and safety industrial relations and social responsibility etc For more information about ROMS visit http www Risk Opportunity com BACKGROUND R Ri Chapter 2 Page 11 of 50 Manapenetertunity em d Chapter 3 INSTALLING Topics covered Installing ROMS Page 13 The USB Key Page 14 Opening ROMS Page 15 Installing ROMS To install ROMS simply insert the ROMS CD ROM into your computer and ROMS will install automatically Follow the instructions on screen f Setup ROMS Welcome to the ROMS Setup d Wizar aY This will install ROMS 1 0 0 0 on your computer e eet e It is recommended that you close all other applications before ai continuing
18. social responsibility and provides tools to help you actively and meaningfully engage stakeholders in the making of business decisions A Who was involved in creating ROMS Several parties contributed to the creation of ROMS including e Martin Loosemore University of New South Wales e Charlie Reilly Brookfield Multiplex Services e Dave Higgon Brookfield Multiplex Limited Cell media e Rodger Wright Founder of Cell media e Steve Clarke CEO of Cell media e Andrew Kelleher Project Manager Multimedia Design and Development Branding e Jon Moyles Programming assistance Updating and Security e Daniel Hogan Script Writing and Reviews e Kathryn Dart Script Writing e Stuart Sevastos Website Development LJ Where in our business can ROMS be used ROMS is an enterprise wide risk management system It is totally flexible and is designed to be used at all levels of your business and in all business functions and departments It thus provides both vertical and horizontal integration of risk and opportunity information and enables you to manage risks across your entire enterprise When used effectively ROMS also enables you to understand and identify crucial inter relationships between risks in different parts of your business ROMS can be used at a policy strategic tactical operational and project level e At a project level ROMS can be used to determine how best to deliver plan and resource projects to satisfy
19. the ROMS process If you choose level 1 then you will be guided to use very simple and quick qualitative techniques but if you choose level 4 you will be guided to use more complex quantitative techniques after first conducting a simple qualitative analysis To help you make this decision ROMS asks you to answer a series of ten questions which is then used to calculate the recommended level Note that this tool is optional as indicated by the asterisk in the column heading If you choose to use this tool you simply have to click on the relevant rating in column 2 for each question put in column 1 ROMS will recommend a level based on the your answers to the questions This is indicated in the Recommended level column However you do not have to follow this recommendation and you are free to choose what ever level you think appropriate in the Chosen level column 1 How complex is the decision problem or task For example Business activities involving complex relationships logistics specialists technologies financial supporters etcetera are more risky and demand a more complex approach If you change your mind on an answer you have provided simply click on the answer and reselect Questions 1 How complex is the decision problem or task For example Business activities involving complex relationships logistics specialists technologies financial supporters etcetera are more risky and demand
20. through the process collectively This may take more time and preparation but the solution will be far superior By involving key stakeholders you will maximise the information you have to make a decision get more experience and opinions and ensure maximum buy in to your final decision Some legislation particularly in occupational health and safety requires you to consult your stakeholders Simple guidance on how to identify and choose your key stakeholders and how to set up and run an effective workshop is provided in ROMS P whatis ROMS philosophy You need to understand the ROMS philosophy before using it ROMS is based on the belief that prevention is better than cure This means ROMS should be used BEFORE making decisions solving problems and planning tasks NOT after them ROMS is designed to encourage collective responsibility for the efficient management of risks and opportunities Its simple approach makes it easy for people to manage their risks and not pass them to someone else ROMS is simple to use yet rigorous ROMS provides a simple practical and flexible approach which is adaptable to the needs and capabilities of different users projects business functions and customers ROMS is a consultative approach to risk and opportunity management You should involve key stakeholders to help ensure collective responsibility and teamwork in managing risks and opportunities e ROMS empowers employees with the necess
21. which you can learn from or when you simply wish to retrieve some proof for compliance reasons that you worked through a past decision thoroughly ROMS Controls At the top right of the screen are 4 buttons that remain throughout ROMS These are The Help button will load an electronic version of this user manual This will require Adobe Reader to view _ The Minimise button minimises ROMS to the Windows task bar allowing you to access programs behind ROMS el The Maximise button switches ROMS between Full Screen and Normal window modes Normal window mode places ROMS inside a window at a resolution of 1024x768 e Educationat Wr Land ROMS ROMS Operational Full Screen window mode maximises ROMS to fill your entire screen ROMS defaults to this mode if your computer is not set to a minimum resolution of 1024x768 7 ROMS Educational E ROMS Operational X The Quit button exits ROMS The specific controls for ROMS Educational and Operational are explained in the following two chapters of this user manual USING ROMS R Ri Chapter 4 Page 23 of 50 Manage P Portuniy om System Chapter 5 Topics covered ROMS Educational Page 25 Tool Bar Page 25 sU Da m f ROMS Educational When you have entered the ROMS Educational section you will be presented with the main ROMS
22. a more complex approach NOTE AS YOU BECOME MORE EXPERIENCED IN USING ROMS YOU MAY NOT FEEL THE NEED TO ASK THE SYSTEM TO RECOMMEND A LEVEL You can easily navigate the screen by using the scroll bar on the right hand side of the screen Alternatively you can use the scroll wheel on your mouse if you have one To understand what is required in each cell click on the relevant column heading on the top of the form This will open up a help screen as in step 1 with further information and any required tools techniques and advice that may be necessary to complete the form Step 2 Choose a level continued For example if you click on the column headed Chosen level you will taken to the screen shown below which provides an explanation of what is required and detailed information about the tools and techniques that are used in each level pej ROMS Operational vasa nann 058 9 Stept Step2 E Sips Step 5 Step 6 Step 7 Step 8 Choose a Level Step 2 gt roses Level 2 Chosen Level ROMS has 4 levels of complexity to choose trom Level 1 is the most commonly used ROMS standard and adopts simple qualitative analysis It is a basic approach to risk ard opportunity identification It is the minimum standard employed in all decisions that involve significant risks and opportunities Level 2 is the standard employed in decisions about busiress activities of mediam risks and opportusity This level imolves simple qua
23. ability to handle huge quantities of information and the take into account the interdependence between different risk variables Stakeholders are people or organisations that can potentially affect or be affected by your decisions Where appropriate they must be considered and consulted in each stage of the risk and opportunity management process Stakeholder analysis is the process of identifying the different types of stakeholders affected by a decision GLOSSARY R Ri Additional Page 49 of 50 4 ba 3 e d ROMS Version 1 0 0 3 Created by Cell media POSTAL ADDRESS Multimedia Design and Training PO Box 890 Subiaco WA 6904 PHONE NUMBERS Telephone 61 8 9382 2811 Facsimile 61 8 9382 3855 Mobile 0419 954 687 INTERNET www Cell media com www Risk Opportunity com EMAIL sales Cell media com sales Risk Opportunity com feedback Risk Opportunity com
24. address Your default email client will open containing all the relevant information for that Owner Post mortem Post mortems allow the user to record the lessons learnt in managing the Risk and Opportunities associated with a specific decision It is completed by individual decision makers in consultation with stakeholders ROMS Operational unsaved CEEE 05 8 amp 9 Step1 Step 2 Step3 Step 4 Step 5 Step6 Step 7 Step 8 Monitor Review and Learn Sup 7 gt Learning gt Post mortem Post mortem This form recceds the lessons learnt in managing Rish and Opportunities associated with a specifc decision Iis completed by individual Cecision maters in consuftatice with stakeholders Post mertem Decision Task or Problem o ensare that tender sum refects actal project costs What would you ditterently sext time Enter What Yos Would Do Citterenty Here Enter information into each cell by clicking on it uj Step 8 Conclusion This is the last stage of the ROMS process The purpose of step 8 is to help you create a record of your deliberations over the life cycle of your business or project Some simple tips are also provided on how to maximise the value of the ROMS process for all involved By clicking on the headings under tools techniques and advice you can access further information about this wa ROMS Operational unsaved rows nann 4 GORA 9 Step1 Step 2 Step3 Ste
25. and learn Page 43 Risk and Opportunity Diaries Page 44 Post mortem Page 44 Step 8 Conclusion 45 TE ROMS Operational When you have entered the ROMS Operational section you will be presented with the main ROMS Operational interface we ROMS Operational unsaved rows nann 059 amp Step1 Step2 Step3 Step 4 Step Step 6 Step 7 Step 8 C C Enter the Project Information The ROMS requires some basic information about the decison task or problem being addressed in Me workshop This data wil act as a future reference point 10 store and recall information Click the row headiegs for help I Tool Bar Along the top of the window is the tool bar ROMS tool bar icons are similar to icons used in other programs The buttons on the tool bar are the easiest way to find your way around and interact with the ROMS program The buttons and their function are listed below al The Home button takes you back to the Main Menu screen If you have made changes to your ROMS file you will be prompted to Save Save As Discard or Cancel pus ROMS Operational unsaved ROMS GO QS 51 1 Step2 Step3 Step 4 Step 5 Step6 Step7 Step 8 C C Enter the Project Information 1 Save your ROMS Save SaveAs Discard gt Cancel Save will save over your existing ROMS file Save As will prompt you to choose a new ROMS file name and location D
26. and the ROMS dice graphic are registered trade marks of Cell media Celmmetia Multimedia for Industry Chapter 1 INTRODUCTION Chapter 2 Chapter 3 INSTALLING Chapter 4 Chapter 5 Chapter 6 Additional Glossary wT Risk and Opportunity Management System bi E Introduction Who should read this user manual How to read this guide Background Information Can anyone use ROMS What does ROMS do What can use ROMS for Can use ROMS alone What is ROMS philosophy What is unique about ROMS What is involved in the ROMS program Does ROMS comply with international standards Who was involved in creating ROMS Where in our business can ROMS be used Installing ROMS The USB Key Opening ROMS Initial Run of ROMS USB Key Not Present ROMS Logo Animation Using ROMS Using ROMS Educational Using ROMS Operational ROMS Controls ROMS Educational Tool Bar ROMS Operational Tool Bar Step 1 Enter the project information Step 2 Choose a level Step 3 Stakeholder consultation Step 4 Identify risks and opportunities Step 5 Assess and prioritise Step 6 Action plan Step 7 Monitor review and learn Risk and Opportunity Diaries Post mortem Step 8 Conclusion Page 4 Page 5 Page 5 Page 5 Page 6 Page 7 Page 7 Page 7 Page 7 Page 8 Page 8 Page 9 Page 9 Page 10 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 17 Page 18
27. ary skills confidence and support to manage risks and opportunities effectively and to accept risks that their competitors do not have the confidence to manage ROMS is based on the belief that people are the most prolific source of information about risk and the best weapon for managing it ROMS is designed to harness the knowledge talents and experience of people ROMS is based on the belief that once identified a business risk ceases to be a problem but becomes a business opportunity to be exploited for the benefit of the business What is unique about ROMS There many unique features to ROMS such as e ROMS is the world s only multimedia enterprise risk and opportunity management system ROMS is designed to provide a consistent systematic and integrated approach to risk and opportunity management across your entire business ROMS is designed to involve stakeholders and capture and harness the knowledge experience and creative capability of your staff in an interactive stimulating way using cutting edge and award winning multimedia technology ROMS provides a unique three dimensional view of risk and its cost of control feature allows negotiation and optimum allocation of risk ROMS is based on 20 years of research and current best practice across a range of high risk industry sectors including construction mining security nuclear power defence social and economic infrastructure ports health
28. comes this problem by providing you with a simple yet rigorous system for filtering out and effectively managing the vast majority of risks and opportunities which can be controlled by qualitative methods The residual risks which remain after qualitative analysis which can sensibly and accurately quantified can then be further analysed using sophisticated and cutting edge quantitative methods such as simulation and sensitivity analysis ROMS recommends the use of Palisade RISK software for this quantitative analysis but is compatible with any quantitative risk analysis software LJ What can use ROMS for You should use ROMS every time you have to make a decision solve a problem or undertake a task that could involve significant risk or opportunity for your business its stakeholders your employees the environment the general public or society at large As well as helping you to make decisions solve problems and plan complex tasks ROMS is an excellent business planning tool It can also be used to develop standard operating procedures for common risks and opportunities in your business environment BACKGROUND R Ri Chapter 2 Page 7 of 50 Manaya 5 Slem 4 Chapter 2 Page 8 of 48 Risk ang nnort Management ae j 2 7 EJ Can I use ROMS alone Yes you can However it is strongly recommended to bring together your key stakeholders into a workshop and work
29. d not be completed to progress to step 4 However it is strongly recommended that this column is completed because it will more precisely define your objectives and allow you to measure whether your eventual action plan step 7 has achieved its aims or not As in all steps you can navigate this help section by clicking on the blue arrow at the top right hand corner of the screen or by clicking on the bread crumbs of each step in the top left hand corner of the screen Once you have entered the relevant information checked it confirmed it with all workshop participants ROMS will allow you to progress to the next step Step 4 Identify risks and opportunities The purpose of step 4 is to help you identify the risks and opportunities associated with each of the 5 common stakeholder objectives identified in step 3 ROMS Operational unsaved ovs J GORDA 1 Step2 Step3 Step 4 Step S Step 6 Step 7 51 8 C Identify Risks and Opportunities This step will help you identity the risks and opportunities associated with each common objective identified in step 3 This step should be completed in the ROMS workshop in consultation with al key stakeholders present Click the colum headings for help ROMS OPERATIONAL ROMS hi Chapter 6 Page 39 of 50 dh 08 7 Pi ROMS OPERATIONAL Chapter 6 Page 40 of 50 Risk ang nnort Management
30. d opportunities to your objectives in making a decision Risk inspections involves inspecting the workplace and or documents at regular intervals The aim is to identify new potential risks and opportunities to your decision outcomes which arise while it is being implemented Risk and opportunity management is the systematic application of culture policies processes and procedures to the identification analysis and control of risks with the aim of minimising risks and maximising opportunities to the business activities of a company its customers and its business partners Risk and opportunity review meetings meeting with decision stakeholders to discuss the implementation of your decision with the aim of identifying potential new risks or opportunities Scenario building involves hypothesising about the future by asking if then questions about specific events Sensitivity analysis involves examining variations in one risk factor while holding others constant in order to discover how changing it impacts upon your objectives In essence sensitivity analysis seeks to identify the multiplier effect of a particular risk upon your objectives The output is a spider diagram Simulation uses state of the art mathematical modelling techniques to help managers artificially experience a situation and thereby identify the risks associated with it The advantage of simulation over the largely manual techniques reviewed above is its
31. e ienglementation of an action plan does as planned That the action plan has the desired impact Staff and stakeholders are kept informed of peogeess towards imolementaten and resoiution Further ritks or opportunities that may arise during implementation are detected and responded 10 Lessons are learnt for future risk and oppertusity management Tools Techniques amp Advice gt Monitoring gt Rich and Opportunity Reviews gt Learning By clicking on the headings under tools techniques and advice you can access further information and pro formas such as risk and opportunity diaries and decision post mortems to help undertake this stage effectively As all steps you can navigate this help section by clicking on the blue arrow at the top right hand corner of the screen or by clicking on the bread crumbs of each step in the top left hand corner of the screen Step 7 does not require you to enter information in the post mortem or diaries to progress to the next step but it is highly recommended that you do so Further information regarding post mortems and diaries are included further in this chapter of the user manual ROMS OPERATIONAL R Ri Chapter 6 Page 43 of 50 i gt EL f 7 ROMS OPERATIONAL Chapter 6 Page 44 of 50 Risk and Opportunity Diaries Risk and Opportunity diaries allow each Owner from Step 6 to se
32. e magnitude of each risk and opportunity you identified in step 4 and thereby put them in priority order teas ROMS Operational unsaved Roms GO 9 amp Step Step2 Step3 4 5 Step 6 7 Step 8 Assess and Prioritise This step will help you assess the magnitude of the risk and opportunities identified in step 4 and peontiae them accordingly This section should be completed in the ROMS workshop in comsumation wit key stakeholders present Click the column headings for help ROMS has automatically inserted the risks and opportunities you identified in step 4 into the first column of this form It has also listed the common objectives in rank order as indicated by the grey bars across the table Note that risks are listed in red and opportunities are in green Step 9 Assess and prioritise continued As on previous forms you must enter information into each column starting with the left hand column Existing controls and working towards the right hand column Rank To enter information you simply click on the relevant coloured letter in each table cell and the ROMS will automatically insert your choice memos TRETEN mete crm No Common Objective Entered Low L Here Mediam M High H TIT Ee e pepe No Risk Entered To Rank No Common Objective Entered Rare A Unlikely 0 Possible P Excelent Good
33. e the actions they are required to carry out and describe e Their progress in achieving Actions e Any problems they had in achieving Actions Whether an Action is Complete Dead or Remaining Live tons ROMS Operational tence Example roms C4 GORA 9 Step Step2 Step3 Step 4 StepS Step6 Step 7 Step 8 Monitor Review and Learn Step 7 gt Monitoring gt Risk and Opportsnity Daries Risk and Opportunity Diaries This form recceds the progress of ciiduals evolved in a control decision It i completed by the Designates Manager ie consultation wim each NOAUA evolved e implementation aed submitted to regular Risk Review merings tee Gscustion In rvidwal Diaries Risk or Opportenity Oweer Wright Actions to be cariied out 1 ducat clentidesgnars atest mplcations of changes in tender process Progress in achieving Actions mer Progress Preblems in achieving Actions Enter Here Actions Complet Dead C Actions Remainiegtive To select an available diary click on one of the names in the Available Diaries list on the right hand side of the screen Enter information into each cell by clicking on it To assign a set of actions as complete or remaining simply click on the appropriate box at the bottom of the screen You can email Diaries directly to each Owner by clicking the Email Diary button and entering the Owners email
34. emergency management asset management etc ROMS has been used as the basis for risk and opportunity management on many major international organisations and projects in a range of high risk industries Some recent applications include the 2008 Beijing Olympic Games delivery process climate change in the health sector security industrial relations safety finance risks tendering skills shortages design management facilities management infrastructure etc ROMS has received a number of international awards such as the 2006 CIOB International Innovation and Research Award and the 2008 International Construction Project Management Association Award LJ What is involved in the ROMS program ROMS is split into two sections to make it easier to get to the right place ROMS Operational and ROMS Educational ROMS Operational contains the tools section of ROMS Here you will be guided step by step through a structured and systematic process which will help you effectively manage the risks and opportunities associated with a specific decision problem or task ROMS Educational contains the information section of ROMS Here you will receive information about the ROMS in a multimedia format with visuals and audio providing you with introductory information about how to prepare use and implement ROMS in your day to day business It is recommended if you have never used ROMS before to watch the ROMS Educational section first
35. ess objectives of stakeholders Fault Tree analysis involves looking for potential faults or weaknesses in a system that might cause failure and mapping the connections between them Fault trees can be used to help you discover how a risk or opportunity might arise It should be used only after you have used another approach to identify what risks and opportunities might occur and when they may occur GLOSSARY R Ri Additional Page 47 of 50 Manaya d ba Jg f A 2 Risk ang o i Management gpunity i lt GLOSSARY Additional Page 48 of 50 Forecasting involves analysing and evaluating past information and statistically using the results to predict the future There are three main types of forecasting methods extrapolative forecasts casual forecasts and normative forecasts Forced relationships involves finding ways in which normally unrelated ideas or objects may be related It involves looking for obscure connections and inter relationships which might lead to potential risks or opportunities Hierarchy of controls the series of control responses presented in order of priority which might lead to potential risks or opportunities Influence diagrams can be used to help you discover how a risk or opportunity might arise They trace the chain of contributory events that could lead to a risk eventuating It should be used only after you have used another app
36. hniques When yos choose Level 1 ROMS wi guide you 10 use the following pro active and reactive Risk and Opportunity Maragenent techniques Pro active techniques help you ideetity potential Risks asd Opportunities while a decision is being made Reactive techniques are used to detect enexpected Risks and Opportunies after a decision has been made Pro active Techniques gt Checidists gt Work breakcown statements NI Reactive Techniques If you then click on any of the techniques listed you will be taken to another screen which explains them in detail So ROMS provides you with multiple layers of advice and information wes ROMS Operational i Rows CEEE T4 OORA 1 Step2 Step3 Step 4 Step Step Step 7 Step 8 Choose a Level Step 2 gt Helg Cresen Level gt Level 1 x gt Checi nts u NI Checklists The simplest way to identify risks aed opportunities is to use a checklist compiled from previous projects This is a standard checkitst of opportunities and risks that can typically affect your company s business activities and witimately its customers This is not an exhaustive list there well be nomero s risks and opportunities not included ut may affect your decison outcomes Use fs lest as a starting sont to develop your own checlist based upon your own experiences from similar decisions in the past You should regularly up date your checklist to reflect your personal experiences and store
37. ided step by step through a structured and systematic process which will help you effectively manage the risks and opportunities associated with a specific decision problem or task The aims of this section are to e Take you step by step through a structured risk and opportunity management process Provide an appropriate set of tools and techniques to help you identify assess and control the risks and opportunities associated with a decision problem or task Provide advice and guidance on how to use those tools and techniques Help you develop a costed and resourced action plan which mitigates risks and maximises opportunities Help you monitor review and adapt that action plan to ensure it achieves its ends Help you learn from the process to improve future business decisions By clicking on Create New you will taken into a completely new ROMS process and a blank series of forms which will need to be completed vs ROMS Operational unsaved noms CEEE OORA 0 Step 1 Step 2 Step 3 Step 4 Step 5 Step6 Step 7 Step 8 Enter the Project Information The ROMS requires some basic information about the decison task or problem being addressed in the workshop This data will act as a future reference point to store and recall information Click the row headings for help Chapter 4 Page 21 of 50 A Risk ang o Management Systa 47 m R Ri
38. in rank order as indicated by the grey bars across the table This enables you to easily identify the most important risks and opportunities associated with each objective It also allows you to identify the most important risks and opportunities overall since those risks and opportunities associated with the highest ranking objectives are the most important to deal with As on previous forms you must enter information into each column starting with the left hand column Recommended additional controls and working towards the right hand column Deadline To enter information you simply click on the relevant text or coloured letter in each table cell Risks and Opportunities Ranked Recommended Additional Controls Residual osuere Owner Deadlines No Common Objective Entered OD MM YY DD MM YY DD MM YY Low L Cost of Controls Accept A Reject 8 High H pom eec LL tus CLR CUES mid DD MM YY The last two columns are indicated as optional by an asterisk However it is strongly recommended that they are completed since this will best ensure that the action plan is implemented When the last two optional columns Owner and Deadlines are completed ROMS will produce individual action plans and diaries for each person named so that everyone involved in implementing the overall action plan knows what they need to do and can be mo
39. ion with the use of the performance of software documentation or information available on this web site Cell media will not be liable for any damages you may suffer in connection with using modifying or distributing the ROMS software product Software Warranty Cell media warrants the ROMS software product to be free from defects in materials and workmanship for 1 year from the date of purchase If during the first year after purchase a defect in the ROMS software product should occur return the product with proof of purchase for replacement at no charge If during the first year after purchase customer notifies Cell media of a defect in workmanship and Cell media notifies customer of acceptance of that defect customer will be entitled to one free electronic download replacement of the corrected ROMS software product when such software is upgraded by Cell media at no charge This warranty applies only to products manufactured by Cell media and not to other manufacturer s products which may be required to run the software such as spreadsheet and operating system software each of which carry the respective manufacturer s warranty Copy Protection The ROMS software product in whole or in part may not be fully copy protected However reselling or redistributing the ROMS software product for any purpose is expressly forbidden except by agreement with Cell media Licenses are required for each person using the software The text ROMS
40. iscard will continue to the Main Menu screen discarding all changes Cancel will return you to the previous screen These buttons are explained further in the Save button information ROMS OPERATIONAL R hi Chapter 6 Page 29 of 50 Vstem A ROMS OPERATIONAL Ri Chapter 6 Page 30 of 50 u TI Tool Bar Continued 57 The Load button allows you to load an old ROMS without going back the opening page of ROMS If you have made changes to your ROMS file you will be prompted to Save Save As Discard or Cancel You will then be prompted to either Load or Cancel Operational unsaved Rows nann ROMS 059 amp Step1 Step2 Step3 Step 4 Step 5 Step6 Step 7 Step 8 C C Enter the Project Information trat Existing ROMs t If you press Load the following dialog box will appear ROMS Operational unsaved Roms geen T4 GO Step1 Step2 Step3 Step 4 Step 5 Step6 Step7 Step 8 C Enter the Project Information To retrieve a record of an old ROMS which you may have previously completed or have partially completed simply browse to the location of your files and double click the roms file that you wish to load This will load your previously saved data into the ROMS forms ready for you to review and or edit The Save button allows you to save your current ROMS file to your com
41. litative aralysis and basic quantitative analysis if appropriate Level 3 is the standard employed in decisions about business activities that are of high risk and opportunity Level 3 involves a basic understanding of ceodot i and statistics Level 4 is highty complex and signes a standard to be employed in decisions about business activity of exceptionally high risk and opportunity Level 4 also involves complex simutation analysis using risk analysis software Palisade RISK sofware is recommended but ROMS is compatible with amy emulation software In choosing your bevel itis important to appreciate Pat risk and epportunty sunagement does not have 10 be complex to be effective Do net be tempted 10 choose the most complex approach as this can be counter procuctive and even dangerous is not appropriate to your particular needs capablities and circumstances M you wish to change level deselect your chosen level and then choose again N Tools Techniques amp Advice D Level 1 s Techniques gt Level 2 s Techniques gt Level 3 s Techniques gt Level 4 s Techniques If you now click on Level 1 techniques under Tools techniques and advice you are taken to another level of information which breaks these down into more detail wes ROMS Operational saves Rows umm T4 OORA Step Step2 Step 3 Step 4 Step S Step Step 7 Step 8 C Choose a Level 492 Help Chosen Level gt Level 1 s Techaiques Level 1 s Tec
42. ncept of risk and opportunity management Take you step by step through the risk and opportunity management process Provide background information about the various techniques available to identify analyse and control risks and opportunities Guide you step by step through the ROMS process By clicking on Load Chapter Menu you will be able to choose a specific chapter and sub menus within it isirotucing roms Preparing Roms P does ROMS work E sing to make a decision e Conclusion to ROMS This is useful when you want to learn about a specific technique or stage of the risk and Opportunity management process To select a specific chapter to view simply select a chapter and then click on a subchapter from the menu that appears Introducing ROMS gt Introducing ROMS What is Risk and Opportunity Management gt What are the potential benefits of using ROMS gt ROMS unique approach Preparing Roms f J does ROMS work E sing noms to make a decision 2 Conclusion to ROMS To return to the previous menu simply click the flashing red arrow at the top right of the screen Using ROMS Operational By clicking on ROMS Operational you will be presented with two choices e GNIS Educational ROMS Operational Los Create New gt Load Existing ROMS Operational contains the tools section of ROMS Here you will be gu
43. nise Omir ROMS Operational unsaved Roms GODS 9 Step1 Step2 Step3 Step 4 StepS Step6 Step 7 Step 8 Monitor Review and Learn amp Print your ROMS gt Print Print Action Plans Print Diaries Cascel Print will print your progress For example if you have completed Steps 1 through 4 only ROMS will only print Steps 1 through 4 Print Action Plans appears when Step 6 has been completed This button allows you to print the appropriate Action Plans for each Owner in Step 6 of ROMS Operational Step 6 is explained in further detail later in this chapter of the user manual Print Diaries appears when Step 7 has been completed This button allows you to print the Diaries for each Owner in Step 6 of ROMS Operational Step 7 is explained in further detail later in this chapter of the user manual Cancel will return you to the previous screen In all cases except Cancel a Print Dialog Box will appear wees ROMS Operational unsaved nann OBS Stepi Step i i DT Step 6 Step 7 Step 8 Monitor Review and Learn Select your desired printer preferences and copies and then press Print m Tool Bar Continued 6060 The RISK button will launch Palisades RISK software if it is installed If you have not installed RISK you will be prompted as such e ROMS Operational unsaved noms Dann C4 0727 QS 9 1 Step2 Step3 S
44. nitored effectively in step 7 You can print these individual action plans and diaries by pressing the print button Step 6 Action plan continued To understand what is required in each cell click on the relevant column heading on the top of the form This will open up a help screen as in previous steps with further information and any required tools techniques and advice that may be necessary to complete the form NOTE DEPENDING ON YOUR CHOICE OF LEVEL IN STEP 2 THE ROMS HAS SELECTED CERTAIN TOOLS AND TECHNIQUES APPROPRIATE TO YOUR CHOSEN LEVEL OF COMPLEXITY EI As in all steps you can navigate this help section by clicking on the blue arrow at the top right hand corner of the screen or by clicking on the bread crumbs of each step in the top left hand corner of the screen Once you have entered the relevant information checked it confirmed it with all workshop participants ROMS will allow you to progress to the next step T Step 7 Monitor review and learn The purpose of step 7 is to help you monitor your action plan review if it is not achieving your objectives as defined in Step 3 and learn from the entire risk and opportunity management process so that you can improve future decision making Unsaved ROMS Lok ROMS Operationa OORA 9 Step Step2 Step3 Step 4 Step S Step6 Step 7 Step8 Monitor Review and Learn pus step 7 The purpose of this stap is to ensure Each imeolved in th
45. on is greyed out and inactive ROMS EDUCATIONAL Chapter 5 Page 25 of 50 Risk ang g Dno 7 Risk ang 0 ent 5 Bo HUN ROMS EDUCATIONAL Chapter 5 Page 26 of 50 You will be reminded from within the program that a More Information screen exists by a visual and narrative prompt 0000006060 Q wa ROMS Educational nann 4 amp Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 O O Preparing for ROMS 1 J information The Audio button allows you to control the volume of ROMS To adjust the volume click once on the Audio button which will change to reveal a slide bar Drag the black box up and down to increase and decrease the volume respectively The Back button takes you to the previous chapter in ROMS Educational If you are at the start of ROMS Educational the Back button will be greyed out and inactive The Step Backwards button takes you backwards in the chapter If you are at the start of the chapter this button is greyed out and inactive The Pause button pauses the current chapter Once pressed the Pause button will change into a Play button which resumes playing the current chapter when pressed The Step Forwards button takes you forwards in the chapter If you are at the end of the chapter this button is greyed out and inactive The
46. p 4 Step 5 51 Step 7 Step 8 Conclusion The purpose of Wis final step is 10 provide you wih an explanation how the ROMS process is completed with further information about a Rish ang Opportunity Management Plan ROMP and quick summary of how to save ycur ROMS Every project department and should document is risk and management IDES a Management Plan ROMP This is the end result opportunity in a Rish and Opgortunity of the ROMS process which records all risk and opportunity management decssions Over the lite of a project IJ Tools Techniques amp Advice D Risk and Opzortenity Management Plans ROMPs gt Advice to help macmise the value of ROMS gt Syang your ROMS As in all steps you can navigate this help section by clicking on the blue arrow at the top right hand corner of the screen or by clicking on the bread crumbs of each step in the top left hand corner of the screen Step 7 does not require you to enter information in the post mortem or diaries to progress to the next step but it is highly recommended that you do so Step 8 concludes the ROMS process Pressing the forward arrow from this point will prompt you to save your ROMS and then take the user back to the main menu screen ready to create a new or load an existing ROMS teas ROMS Operational unsaved Roms nann ORS 9 Step Step2 Step3 Step 4 Step5 Step Step7 Step 8 Conclusion 1 J Save your
47. puters hard drive You will be prompted to Save Save As Discard or Cancel ul Tool Bar Continued v ROMS Operational unsaved Roms OORA Step1 Step2 Step3 Step 4 StepS 51 Step7 Step 8 Enter the Project Information B Save your ROMS Save Save Discard gt Cancel Save will save over your existing ROMS file or prompt you to choose a new ROMS file name and location if you have not previously saved v ROMS Operational unsaved noms OORA Step1 Step2 51 3 Step 4 StepS Step 51 8 Enter the Project Information Save As will prompt you to choose a new ROMS file name and location Simply browse to your desired location enter your new ROMS file name and press Save wa ROMS Operational unsaved rows nann T4 OORA Step1 Step2 Step 3 Step 4 Step 5 Step6 Step 7 Step 8 C Enter the Project Information Cancel will return you to the previous screen E f ROMS OPERATIONAL Ri Chapter 6 Page 31 of 50 ROMS OPERATIONAL Chapter 6 Page 32 of 50 Scare 4 Bar Continued The Print button allows you to print your progress through ROMS You will be prompted depending on your progress through ROMS to either Print Print Action Plans Print Diaries or Cancel 1 RAMS finaratianal ns n
48. r information and any required tools techniques and advice that may be necessary to complete the form Your first step is to complete column 2 by allowing each stakeholder in turn to list their top five objectives You must enter at least one objective for each stakeholder but you need not list five As you work through this process you will be surprised that even the most distant stakeholders will have common objectives In a discussion with your stakeholders about their 5 common objectives you can transfer common objectives to the third column headed 5 common objectives ranked by clicking on the arrows along side each stakeholder objective You need not have 5 objectives if you cannot find them Step 3 Stakeholder consultation continues When the common objectives column is populated the common objectives must be placed in rank order by using the arrows in each cell to move each objective up and down 5 Common Objectives Ranked Enter Common Objective 1 Here Enter Common Objective 2 Here Enter Common Objective 3 Here Enter Objective 5 Here This ranking process is very important because it will dictate the allocation of resources to control various risks later in the ROMS process Clearly the risks and opportunities associated with the most important objectives will receive the greatest allocation of resources The final KPIs column is optional as indicated by the asterisk in the column heading It nee
49. rate levels Probability the likelihood of a specific event expressed qualitatively or quantitatively Quantitatively it is expressed as a number ranging between 0 and 1 with 0 indicating an impossible event and 1 indicating a certain event Qualitatively it is expressed in words such as rare unlikely possible etc Probability distribution identifies the range of outcomes associated with a decision Types of distribution include normal uniform trapezoidal and triangular Reasonably practicable doing everything that would be reasonably expected of the average person with particular job responsibilities which is reasonable in the circumstances considering costs and benefits taking into account time and resources available Residual risks the remaining risks after treatment measures have been applied Risk an event which could happen which could have potentially negative effects upon the attainment of business objectives Risk acceptance an informed decision to accept the good or bad consequences of an event Risk analysis involves analysing the level of risk by estimating the likelihood and consequences of any potential risks and opportunities to your objectives in making a decision Risk control involves deciding upon and implementing appropriate management responses Risk identification involves identifying what how and when things can go wrong or improve The aim is to identify and priorities any potential risks an
50. rial Security Bomb Tender Relations roms Threat roms Example roms Note ROMS is designed to be run on at least a 1024 x 768 resolution however ROMS will automatically resize to fit your screen if your monitor is incapable of running at this resolution INSTALLING Ri Chapter 3 Page 15 of 50 Vstem Deom 47 Chapter 4 Initial Run of ROMS USB Key Not Present ROMS Logo Animation Using ROMS Using ROMS Educational Using ROMS Operational ROMS Controls Topics covered Page 17 Page 17 Page 18 Page 18 Page 19 Page 20 Page 23 On the initial run of ROMS you will be presented with a login screen Please ester your ROMS Username amp Password ROMS username EM Password Okay gt Quit ROMS Enter your username and password that was supplied with your ROMS install disc and press Okay You will only be asked to enter this once as ROMS will remember your username and password for you You will only ever be prompted to re enter these details if you have either reinstalled your Operating System or your account has expired NOTE YOU MUST BE CONNECTED TO THE INTERNET FOR THIS TO WORK AS ROMS ACCESSES YOUR ACCOUNT DETAILS FROM THE ROMS INTERNET DATABASE If upon running ROMS a screen such as this appears i Insert USB Key ROMS has not detected your USB Key Please make sure it is placed correctly in your USB drive and your computer has successf
51. roach to identify what risks and opportunities might occur and when they may occur Influence diagrams recognise that most risks and opportunities do not occur in isolation but as a result of a chain of contributory events or risks Key Performance Indicator measurable criteria established early in the risk and opportunity management process which are used as a benchmark against which the success of risk and Opportunity management efforts are measured Likelihood used as a qualitative or quantitative description of probability Loss any negative consequence as a result of an event Can be financial or otherwise Mitigate minimising the severity of a risk by acting on its potential likelihood or consequences Monitor to look for risks or opportunities by checking observing and supervising an activity on a regular basis Objectives are the intended outcomes of your decisions Each stakeholder will have different objectives which will have to be reconciled Opportunity an event that could happen which could have potentially beneficial effects upon the attainment of business objectives Organisation a company firm enterprise or other legal entity public or private that has its own function administration and employees Perceptions are how stakeholders see or interpret risks Performance appraisal the process of evaluating progress against KPl s using established measurement criteria at individual contract and corpo
52. rumbs of each step in the top left hand corner of the screen Once you have entered the relevant information checked it confirmed it with all workshop participants ROMS will allow you to progress to the next step T Step 3 Stakeholder consultation The purpose of step 3 is to help you identify and understand your stakeholders objectives and to ultimately identify 5 common objectives which can bring your stakeholders together to work collectively towards a solution to this problem ROMS Operational unsaved rows CEEL 774 05 9 amp Step Step2 Step3 Step 4 Step 5 Step 6 Step 7 Step 8 Stakeholder Consultation This step will help you identify and rank key stakeholder objectives and associated KPIS This step should be completed in the ROMS workshop in consultation with ail key stakeholders present Click the column headings for help NOTE YOU HAVE BEEN RESTRICTED TO 5 COMMON OBJECTIVES TO AVOID THE PROCESS BECOMING UNWIELDY IN LATER STEPS As on previous forms you must enter information into each column starting with the left hand column Key stakeholders objectives and working towards the right hand column KPls NOTE ROMS has automatically inserted your key stakeholders selected in step 1 into the first column of this step 2 form To understand what is required in each cell click on the relevant column heading on the top of the form This will open up a help screen as in previous steps with furthe
53. sk ang o npo j Brosenen ba on 7 Chapter 4 Page 22 of 50 Using ROMS Operational continues When completed and saved these forms will provide you with a rigorous record of your deliberations in making a particular decision solving a problem or planning a task These records are extremely important for compliance reasons and can provide a powerful learning resource for your company They can also provide the basis for developing training systems and for developing standard operating procedures for dealing with commonly recurring risks and opportunities By clicking on Load existing the following dialog box will appear To retrieve a record of an old ROMS which you may have previously completed or have partially completed simply browse to the location of your files and double click the roms file that you wish to load This will load your previously saved data into the ROMS forms ready for you to review and or edit ROMS Operational climate Change roms CEEE GORA 9 51 1 Step2 Step3 Step 4 Step S Step6 Step 7 Step 8 C Enter the Project Information The ROMS requires some basic information about the decison task or problem being addressed in the workshop This data wil act as a future reference point to store and recall information Click the row headings for help This can be useful when you are faced with a similar decision to one which has been made before
54. so that you can get a better understanding on the whole process before proceeding to the ROMS Operational section BACKGROUND R Ri Chapter 2 Page 9 of 50 stem iJ 7 Chapter 2 Page 10 of 50 Risk ang nnort Management Systa We 2 j M Does ROMS comply with international standards ROMS complies with and exceeds international standards of risk management such as AS NZS 4360 2004 and guidelines such as MAB MIAC Guidelines for Managing Risk in the Australian Public Service British Standard BS 6079 3 2000 e COSO Enterprise Risk Management Framework 2004 e 150 CD31000 Risk Management Guidance Standard e ISO IEC Guide 73 and e Canadian Standard CAN CSA Q850 97 October 1997 However ROMS provides much more than just compliance The driving force behind ROMS is to provide your company with competitive advantage by exceeding basic international standards of risk management and drawing on international best practice and research in a range of different high risk industries including resources mining chemical processing construction asset management and nuclear energy Ultimately ROMS is designed to provide competitive advantage and add value to your business by providing you with the tools to manage your risks more confidently than your competitors and turn them into business opportunities ROMS is also underpinned by a strong sense of corporate
55. ted with an event Many cannot be quantified accurately Consultation is the process of communicating with internal and external stakeholders at each stage of the risk and opportunity management process to ensure their needs are considered and reconciled with business objectives Contract the legal agreement which records the distribution of risks between different business partners Investment life cycle of a project Crisis management involves reacting under severe time pressure to risks that have occurred and which pose serious risks to objectives Critical success factors are those objectives that a stakeholder regards as critical for contract SUCCESS Designated manager the person with overall responsibility for the stage of the contract within which your activity takes place Devil s advocate a person employed to formally introduce dissent into the decision making process and question assumptions underlying specific decisions Useful in providing a different perspective and encouraging a re analysis of problems Emergency an extreme situation where an incident has already occurred or is imminent and poses an immediate risk of sever economic and financial loss legal or industrial action to the health and safety of company staff or the general public to the environment or to a company s corporate image Event an incident or situation which could occur or has occurred which poses a risk or Opportunity to the busin
56. tep 4 Step 5 51 Step 7 Step 8 Monitor Review and Learn 1 Risk Not Installed The Back button takes you to the previous step in ROMS Operational If you are at the start of ROMS Operational the Back button will be greyed out and The Forward button takes you to the next step in ROMS Operational If you are at the end of ROMS Operational or you have not completed all required sections of the current Step the Forward button will be greyed out and inactive Notice that the tool bar also lists the name of the file you are currently working on and the eight steps of the ROMS process ROMS Operational unsaved Roms nann OORA Step1 Step2 Step3 Step 4 Step 5 Step Step 7 Step 8 Enter the Project Information The ROMS requires some basic information about the decison task or problem being addressed in the workshop This data wil act as future reference point 10 store and recall intormation Click the row headings for help Clicking on one of the steps will take you to that appropriate Step in ROMS Operational providing the Step is active ROMS OPERATIONAL nous Ri Chapter 6 Page 33 of 50 Wanaona tunity ROMS OPERATIONAL Chapter 6 Page 34 of 50 TI Tool Bar Continued ROMS indicates your current step by changing it from black to blue ROMS also names your current step at the end of the tool bar in large blue letters
57. ully detected it Press okay to try again Chapter 4 Page 17 of 50 Risk ang Manager PPOrtunity ent System 4 Chapter 4 Page 18 of 50 ROMS Risk After logging in succesfully the ROMS Logo Animation will appear This lasts only 12 seconds and can be skipped by clicking once anywhere on the screen T Risk and Opportunit gement System A 4 f TM using Roms After logging in and viewing the ROMS logo splash screen you will be presented with two options as shown below ROMS Educational Sperational To get started you must select either ROMS Educational or ROMS Operational Using ROMS Educational By clicking on ROMS Educational you will be presented with two choices J ROMS Educational b Create New Load Existing ROMS e ROMS Operational By clicking on Play All you will be taken systematically through each of the five chapters which comprise the ROMS Educational section mes ROMS Educational amp Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter C Introducing ROMS d 2 USING ROMS Ro MS Chapter 4 Page 19 of 50 Ri Chapter 4 Page 20 of 50 A 9 Using ROMS Educational continued The aims of this section are to Use lively audio visuals and text to introduce you to the co

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