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News

Global risk management system for mining group

Active Risk : 16 October, 2008  (Application Story)
Rio Tino mining group to deploy Active Risk Manager from Strategic Thought in support of its risk management program
Strategic Thought Group (STG) has announced that the leading international mining group, Rio Tinto, has selected Active Risk Manager (ARM) for its integrated global Risk Management program

Active Risk Manager is Strategic Thought Group's comprehensive, web-based risk and opportunity management software solution with proven capabilities to support enterprise-wide implementations in major global organisations. ARM enables the identification, recording, aggregation, assessment, management and monitoring of both risks and opportunities so that companies have the information and strategies to balance risks against rewards.

"This contract marks a significant milestone for Strategic Thought Group as it is in a 'risk mature' sector and indicates the need for true enterprise-wide Risk Management solutions which go far beyond the scope of the traditional project-risk focus," stated Martin Metcalf, CEO of Strategic Thought Group.

"Rio Tinto is proud to be a leader in our chosen areas of business. Our continued success depends on our ability to understand the challenges of a changing world, and to respond effectively. Uncertainty offers significant opportunities for innovation, value creation and competitive advantage. We also know that there are potential threats inherent in much of what we do, and we are committed to minimising these," commented Guy Elliott, Finance Director at Rio Tinto Group and Board Risk Sponsor.

"To underpin our risk programme we needed software with both a breadth and depth of functionality. Active Risk Manager proved to be the pre-eminent solution in the field. It is important for us that ARM can not only help identify and manage risk but also highlight both emerging threats and opportunities," said John Summers, Chief Advisor-Risk at Rio Tinto Group.

"We look forward to working very closely with Rio Tinto on this important global rollout as they have a strong focus on risk areas such as Health and Safety and the environment. The solution will support not only office-based employees but also those entering risk information in challenging working environments out in the field," concluded Martin Metcalf.

The deal, worth in excess of a million pounds sterling (GBP), is one of the most significant in STG's 21 year history and saw ARM selected following an extensive world-wide examination of other systems available.
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