Our risk management specialists evaluate compliance to find if the governance aligns with business objectives at rates starting at $15 per hour
Detecting, tracking and handling risks related to your software is critical if you want to make sure that your project is not hampered in any way. You need to consider security concerns, as well as regulatory and financial risk factors. It is unlikely that as a business you have an in-house team capable of performing all these activities. Outsourcing risk management services to a team of professionals with the requisite expertise is your best option in such a case.
At Flatworld Solutions, we have nearly two decades of experience in various types of software testing, and our expertise cuts across domains. We provide comprehensive range of risk management testing services through our brilliant team of testing engineers and directors. Our customers rely on us to perform exhaustive tests, ensure regulatory compliance, and reduce risk of business loss – leaving them free to focus on business growth.
Risk Management Services We Offer
Loss of data, system failure, security lapses - these are all the different types of risk involved in a software development project. At Flatworld Solutions, we follow a systematic approach to the detection, monitoring and controlling risks with regard to software. We make sure to understand the unique needs of your business, your goals, your competition and so on, and come up with a plan of risk management testing. Our customers are always kept in the loop throughout the testing process, and their suggestions are also included. Our range of risk management services include -
Our team performs a detailed analysis of the system to pinpoint the riskiest elements or areas in your apps and systems. This is done via making checklists, conducting workshops, consulting experts, and using modern techniques. The risks identified, their root causes, and possible responses are entered into a spreadsheet called the risk register, and is used to track risks through the lifecycle of the project. Risk planning is facilitated through a detailed risk breakdown structure that enables the identification of risk prone areas and helps us build successful strategies for monitoring and assessing risk.
After the risks are identified, our testing team evaluates them and categorizes them according to severity, by using techniques like risk matrix and so on. This activity helps to check the probability of the risk manifesting, and what effect it will have.
As a leading risk management testing service provider, we can get to the root of the problems that have the potential to cause serious issues in the system.
Risk Response Planning
This activity allows us to decide if the potential threat needs to be responded to, and if so, when. Certain risks may need to be responded to at the project planning phase, and some during the monitoring phase, and so on.
To minimize the negative impact of possible risks, we use this approach; here we either take steps to bring down the risk to a manageable level, or remove it completely.
Risk Contingency Planning
The possibility of unforeseen events taking place without full knowledge of the impact, is risk contingency. We perform this to handle worst-case scenarios, and to draw a blueprint of action to be taken in case those events actually unfold.
Risk Monitoring and Control
Trend and variance analysis, audits, evaluations, measuring technical performance etc. are carried out to both monitor as well as control risks. This helps us to keep track of risks already identified, and those yet to be detected, and to draw up a step by step guide to handle those risks and to carry out risk responses efficiently and quickly.
Transaction and Object Risk Quantification
Quantifying the transaction and object risk is an important risk management service provided by the experienced team from Flatworld because it is a critical activity.
Optimizing Test Efficiency
At Flatworld Solutions, we leave no stone unturned to optimize the efficiency of the test without compromising on the test coverage.
To complement risk-based testing, we perform quality analysis as part of our risk management services.
System Complexity Determination
As part of risk management testing services, we make an in-depth study of the complexity of each primary system components that gives valuable insights.
System Component Change Quantification
With this service we determine the level or degree of change of the complex system components.
Measuring and Tracking the Software Risk Level
It is important to know the level or degree of risk in every iteration of your important software apps; to help you stay abreast of this information in real time, we create a dashboard that measures and keeps track of the risk severity.
Benefits of Risk Management Services
It provides effective and optimal use of test resources, boosting productivity and cutting costs
With QA resources being diverted to the high focus areas, it helps boost productivity and enhance service performance
With the apps' vital functions being tested, an ideal test plan can be generated, depending on risk evaluation, and categorization of particularly high-risk areas
It allows optimization of tests, de-scoping of low-value tests, and offers clarity of information about the test coverage
Risk management allows focusing on the most important areas – fewer, more focused and more efficient tests and analysis
Helps to easily detect potentially problematic areas and take preventive action
More effective strategies and better test cases can be chosen
Risk management helps to focus the goals, direction, and strategies of the test on the most problematic areas, and allows consistent monitoring of risks to understand the status of the project and its quality
In combination, these factors eventually enable your customers to have a great experience
What is Risk Management Services?
Risk management services help companies to deal with critical risk or avoid it altogether through proactive measures. He risk can be categorized broadly affecting brand image, finance, legal compliance, operations, and so on. Risk management services are aimed to mitigating exposure by identifying the problems before it turns critical to a point where business is exposed to vulnerabilities. To do so, the risk management experts collect data from IT systems, operations department, and other niches to analyze through a holistic approach.
Risk Management Process We Follow
Our risk management process is highly transparent and self-explanatory. Being the best risk management service providing company, we help you understand the process before we commit ourselves to the task to keep communications clear and ensure 100% success -
Discovering the client needs to understand risk involved in the project
Planning and designing a detailed risk management framework
Choosing risk management professionals and signing NDA
Execution of risk management services
Documenting observations from evaluation and collecting feedbacks
Why Outsource Risk Management Services to Flatworld Solutions?
As a risk management service provider, we constantly upgrade our skills and know-how, and use the most powerful tools and latest technologies. Outsourcing risk management services to Flatworld Solutions offers you a wide range of advantages -
Check out this comprehensive case study to become aware of a Scandinavian client's success by outsourcing SaaS testing to FWS and how we accelerated product deployment without burdening them with cost and time overhead.
Outsource Risk Management Services to Flatworld Solutions
We have been using Flatworld Solutions' service for the last four months for testing of our SaaS solution. They have been a professional and committed partner who has taken responsibility for the partnership.
Are you looking for a reliable and experienced risk management testing services provider? Flatworld can be your ideal partner because we have project management tools and a workflow that is better than what most other risk management service providers follow. We handle projects of all sizes and render risk management solutions to minimize exposure to compliance risks.
Contact us today if you have a risk management requirement and get a free quote in 24 hours.