Risk management in detail but easily – Software house QOCO Systems succeeded with Thinking Portfolio Risk Portfolio

QOCO Systems has two Thinking Portfolio’s portfolio models in use: Project and Risk Portfolio. Implementation of the portfolios was effortless and now risks, projects and resources are all managed in the same tool.

The aviation industry has strict requirements for risk management

QOCO Systems Oy is an ICT supplier company in the aviation industry. Risk management, standards and regulations are a key part of business operations in the aviation industry, says Laura Auhto-Savolainen, who is responsible for QOCO Systems’ management system based on ISO 9001 and ISO 27001 standards. She is one of the main users of their Risk Portfolio and was defining the tool for the company’s use.

Like many other companies, QOCO Systems also had challenges with risk management requirements in the past. Risks must be managed in sufficient detail and easily. Links between risks must be made visible, as well as measures resulting from risks and their management. In addition to individual risks, it should be possible to look at the overall picture of all risks, and information should be easily found. A solution to these challenges was found in Thinking Portfolio’s Risk Portfolio.

Risk Portfolio implementation project was started with confidence

QOCO Systems previously implemented Thinking Portfolio’s Project Portfolio (Read article: “Thinking Portfolio’s straightforwardness convinced software house QOCO Systems”). At Thinking Portfolio’s user day, they heard presentations about the use of Risk Portfolios, and the idea of acquiring a second portfolio matured.

Laura said that the implementation of the Project Portfolio went smoothly, so they started the implementation project of the second portfolio with confidence, as people and the methods of operation were already familiar.

“Building a good relationship helps the work of both parties”

Laura says that she particularly appreciates that Thinking Portfolio’s consultants presented the demo environment of the portfolio and told what kind of solutions have been built for other similar portfolios. They wanted to use this information as much as possible, even though there were clear wishes about certain things. In her opinion, the ease of implementation is one of the main advantages of the portfolio.

“There has been nothing bad to say. All our wishes were handled smoothly. We were surprised how quickly all the changes we wished for were made! Just when we sent a message about new needs, a comment already came that this has been taken care of. Building a good relationship helps the work of both parties”, Laura says.

Portfolio gives visibility to the risk entity and details

Risk Portfolio has received positive feedback immediately after its implementation and it has been seen to meet the needs of QOCO Systems well. According to Laura, one of the best aspects of the portfolio is that its’ use is intuitive and easy to learn.

“The portfolio contains overviews and reports that provide an overall picture from different perspectives and yet allow for a very detailed analysis of individual risks. It is definitely a plus of your software that the overview is similar to any table, and it is easy to understand what it is about.”

In the portfolio, it can be defined where in the company and business a single risk is linked to and how the risks are linked to each other. Laura also believes that the portfolio is a very effective tool from the point of view of ISO quality and information security standards and auditing. It is easy to show the auditor information, updates, situation reviews and changes related to risk management by running necessary reports from the portfolio.

“The portfolio contains overviews and reports that provide an overall picture from different perspectives and yet allow for a very detailed analysis of individual risks.”

“Risk Portfolio has comprehensive reporting and information can be easily obtained from different perspectives. Therefore, it is easy to use the information in business and, for example, in audits. The use activity of the portfolio is increased by the fact that risks, projects, and resource management can all be found in one place, and everything looks the same. Then it is easy to link things together.”

In the future, the use of Risk Portfolio is planned to be developed and expanded

In the near future, QOCO Systems will focus on making the use of Risk Portfolio a continuous activity so that risks will be reviewed and updated in the tool.

A longer-term goal is to expand the use and reporting of the portfolio for example for ISO certificates and continuous reporting. Laura says that the goal is to use Risk Portfolio more widely for product-specific risk assessments and to have project risks combined with business risks.

At QOCO Systems, they are sensitive to trying new functionalities in the portfolio. Laura says that she is already looking forward to next year’s Thinking Portfolio user day, where she will again hear about new functionalities and ways to develop portfolios.

“QOCO helps the aviation industry thrive in a changing world by creating new ways to work, communicate and use data. We have been a trusted partner to airlines, MROs and aerospace OEMs for over 12 years. Our solutions significantly improve the industry’s complex processes. They help our customers achieve more by doing less and save time on labour-intensive tasks. We also bring visibility into our customers’ operations to support real-time informed decision making.” (https://www.qoco.aero/)

Further information:

Esa Toivonen, Senior Portfolio Advisor, Sales

Tel +358 40 733 6670, [email protected]

Katri Harju, Customer Success Manager

Tel +358 40 706 4354, [email protected]