USAF has acquired additional licences for ARM, Strategic Thought’s enterprise risk management (ERM) software to support a further 150 users. This purchase signals another step forward in deploying ARM as the de-facto risk management solution to support USAF’s Acquisition Portfolio Risk Management program which will introduce rigorous and robust standardized risk management processes across the organization and enable Acquisition Excellence.
USAF programs have been encouraged by the organization’
USAF awarded its first contract to Strategic Thought, valued at over US$ 1million, in the latter half of 2008. At the time the Air Force’s Material Command (AFMC) wanted to institutionalize rigorous risk management to comply with a mandate from the Assistant Secretary of the Air Force to enable on-time, on-budget and to high technical performance the delivery of acquisition programs and projects that equip the war fighter to protect the national interests of the USA. To ensure correct funding and resource investment decisions are made, AFMC needs to know the risk profile of each program. It can then decide whether additional funding is required to mitigate risk in one program while in another funds could be released as successful risk mitigation strategies have been deployed. Strategic Thought’s ARM solution assists in achieving the goal of correct resource allocation.
A senior representative of the USAF Acquisition Leadership commented, “By standardizing our ERM processes and software, we have been able to optimize and streamline our resources significantly. ARM is a de-facto gold standard software solution in the aerospace and defence sector and is used extensively by USAF’s supplier base including Lockheed Martin, Northrop Grumman, Raytheon and EADS. In Strategic Thought, we have a trusted partner. We are confident that they will continue to deliver enhanced integration of systems and co-ordination of risk management best practice. As a result, we expect to achieve considerable cost savings across our risk and program management operations.”
Lynton Barker, Executive Chairman of Strategic Thought Group, added, “We are proud to extend our collaboration with the US Air Force and to help with their drive towards Acquisition Excellence. The provision of new software licences will add momentum to an already successful strategic risk program and help realize the vision of risk-based investment decision making.”
The USAF ARM Project Office has staff members, both military and contractors, extensively trained in the use of ARM and its life cycle risk management approach at the majority of bases around the country. This includes the education program at the Air Force Institute of Technology which trains new users of ARM and ensures program managers are rigorous in their application of risk management. This approach to self-sufficiency means that new programs and users can have a demonstrable robust risk management solution in a matter of days. The leadership has faster access to real-time, authoritative risk information across a growing portfolio of programs from a single web-based system which will enable risk based decision making.
Active Risk Manager from Strategic Thought Group plc
Strategic Thought Group plc (AIM:STR) addresses enterprise-wide risk management (ERM) requirements with advanced software and services that can be implemented across organizations in all industry sectors.
Active Risk Manager (ARM), is recognized as having the most extensive range of ERM capabilities available today. ARM enables the identification, communication, analysis and mitigation of risks and opportunities available in both quantitative and qualitative formats. It covers project and portfolio risk, supply chain risk management, business continuity, controls management, reputational risk, health and safety, incident management, governance, compliance risks and more.
Strategic Thought Group, founded in 1987, is headquartered in the UK and its US operation, Strategic Thought Inc is based in Washington DC.
For further information and a detailed view of Strategic Thought's products and services visit www.strategicthought.com or call +44 (0)1628 582500 begin_of_the_
United States Air Force (USAF)
With 7,500 manned aircraft, 2,000 air-launched cruise missiles and 800,000 military and civilian personnel, USAF is the largest air force in the world.
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