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Operational Risk

Most risk monitoring and evaluation are both discrete and qualitative, making them ineffective as evaluation tools.  To truly be useful, risk must be evaluated in a probabilistic quantitative manner incorporating the cumulative effects of predecessor and dependent actions.  When done correctly, the results provide powerful insight into how operations should be managed in order to maximize the likelihood of success while minimizing financial, health and safety, environmental, and other risk elements.

Lone Star® has deep experience creating solutions that evaluate operational risk.  Both our TruNavigator® MAX and Integrated Risk Information System (IRIS™) assist customers in understanding how decisions today impact future operational risk in a cumulative probabilistic manner.  An underlying technology of TruNavigator® MAX is AnalyticsOS® (AOS®) a real-time predictive and prescriptive analytics technology.  AOS® has incorporated the Bow Tie Risk Assessment methodology.  When combined these technologies assist companies in evaluating operational risk at the point of occurrence to deliver instant awareness and enable customers to minimize or eliminate events before they occur.