System for assessing the risk of projects

• US 20030088446A1
• Filed: 07/05/2001
• Published: 05/08/2003
• Est. Priority Date: 07/05/2001
• Status: Abandoned Application

• Current Assignee: General Electric Company
• Original Assignee: General Electric Company
• Inventors: Cooney, William F., Phelps, Mary B.
• Application Number:
  US09/900,489
• Publication Number:
  US 20030088446A1
• Time in Patent Office: Days
• US Class Current: 705/7
• CPC Class Codes: G06Q 10/0635 Risk analysis of enterprise or organisation activities
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A method and system for assessing risk associated with a project. The risk assessment system provides rules for various risk factors of risk types that are used to determine which risk factors of that risk type may be high. The risk assessment system also provides mitigating factors for the various risk factors. The risk assessment system receives information describing various projects. The information includes the data relating to each of the risk types. To assess the risk of a project, the risk assessment system identifies the risk factors that have a high risk by applying the rules to the data associated with that risk type. After the high risk factors are identified, the risk assessment system then identifies mitigating factors that apply to the high risk factors.

Claims

1. A method in a computer system for assessing risk of a project, the method comprising:

for each of a plurality of risk types,

providing rules for one or more risk factors for determining whether each risk factor is high; and

providing one or more mitigating factors for a risk factor;

receiving information describing the project, the information including data relating to each risk type;

for each of the plurality of risk types,

identifying risk factors that have a high risk by applying the provided rules to the data for the risk type; and

identifying mitigating factors that apply to the identified risk factors; and

generating a risk assessment report that includes the identified risk factors and identified mitigating factors.

2. The method of claim 1 wherein the information describing the project includes overall project information and detailed project information.

3. The method of claim 1 wherein the provided rules are provided by software that implements each rule.

4. The method of claim 1 wherein the provided rules are provided by a rules engine that applies rules from a rules table.

5. The method of claim 1 wherein indications of the identified risk factors and identified mitigating factors are persistently stored.

6. The method of claim 5 including receiving an analysis of the identified risk factors and mitigating factors for a risk type from a user designated to provide analyses for that risk type.

7. The method of claim 6 wherein the generated risk assessment report includes the received analysis.

8. The method of claim 1 including receiving auxiliary data for a risk type.

9. The method of claim 8 wherein the generated risk assessment report includes the received auxiliary data.

10. The method of claim 8 wherein the auxiliary data is in a spreadsheet format.

11. The method of claim 8 wherein the auxiliary data is in a graph format.

12. The method of claim 1 wherein the project is defined by a proposed contract.

13. A computer system for assessing risk of a project, comprising:

a rules component having rules for risk factors for determining whether each risk factor is high and having mitigating factors for a risk factor;

a data input component that receives information describing the project, the information including data relating to the risk factors; and

an analysis component that identifies risk factors that have a high risk by applying the rules to the data and that identifies mitigating factors that apply to the identified risk factors.

14. The computer system of claim 13 including a report component that generates a risk assessment report listing the identified risk factors and the identified mitigating factors.

15. The computer system of claim 13 wherein the information describing the project includes overall project information and detailed project information.

16. The computer system of claim 13 wherein the rules are provided by software that implements each rule.

17. The computer system of claim 13 wherein the rules are provided by a rules engine that applies rules from a rules table.

18. The computer system of claim 13 wherein indications of the identified risk factors and identified mitigating factors are persistently stored.

19. The computer system of claim 18 wherein the risk factors and mitigating factors are categorized by risk type and including an analyst component that receives an analysis of the identified risk factors and mitigating factors for a risk type from a user designated to provide analyses for that risk type.

20. The computer system of claim 19 wherein the received analysis is included in a risk assessment report that lists the high risk factors and mitigating factors.

21. The computer system of claim 13 including a component that receives auxiliary data for a risk type.

22. The computer system of claim 21 wherein the received auxiliary data is included in a risk assessment report that lists the high risk factors and mitigating factors.

23. The computer system of claim 21 wherein the auxiliary data is in a spreadsheet format.

24. The computer system of claim 21 wherein the auxiliary data is in a graph format.

25. The computer system of claim 13 wherein the project is defined by a proposed contract.

26. A computer-readable medium containing instructions for controlling a computer system to assess risks of a project, by a method comprising:

for each of a plurality of risk types, providing rules for one or more risk factors for determining whether each risk factor is high;

receiving information describing the project, the information including data relating to each risk type;

for each of the plurality of risk types, identifying risk factors that have a high risk by applying the provided rules to the data for the risk type; and

generating a risk assessment report that includes the identified risk factors.

27. The computer-readable medium of claim 26 wherein the information describing the project includes overall project information and detailed project information.

28. The computer-readable medium of claim 26 wherein the provided rules are provided by software that implements each rule.

29. The computer-readable medium of claim 26 wherein the provided rules are provided by a rules engine that applies rules from a rules table.

30. The computer-readable medium of claim 26 including identifying mitigating factors that apply to the identified risk factors wherein indications of the identified risk factors and identified mitigating factors are persistently stored.

31. The computer-readable medium of claim 30 including receiving an analysis of the identified risk factors and mitigating factors for a risk type from a user designated to provide analyses for that risk type.

32. The computer-readable medium of claim 31 wherein the generated risk assessment report includes the received analysis.

33. The computer-readable medium of claim 26 including receiving auxiliary data for a risk type.

34. The computer-readable medium of claim 33 wherein the generated risk assessment report includes the received auxiliary data.

35. The computer-readable medium of claim 33 wherein the auxiliary data is in a spreadsheet format.

36. The computer-readable medium of claim 33 wherein the auxiliary data is in a graph format.

37. The computer-readable medium of claim 26 wherein the project is defined by a proposed contract.