When considering longevity, no matter the age to which each wishes to live, every individual would prefer to live a life with optimal health and wellbeing than spending their last years in a dis-eased state. Surveys around the world have shown that health is the number one concern for not only those that have achieved financial success in business, but all people. The general problem, while achieving financial success, is the unintentional lack of effort and time each individual puts aside for nourishing and caring for themselves, resulting in a compromised immunity, rapid aging and a dis-eased state of being in body, mind and spirit.
To overcome this, the pharmaceutical and health industry has provided numerous solutions in the form of a band-aid under the disguise of medication and treatments to compensate and presumably heal a compromised human health system. However, the medication taken over the years pose numerous other health threats and medical issues which are not always properly communicated too, and considered by the patient.
Risk is multi-dimensional. It has intertwined causes, consequences and controls to start with.
Calculations built into the software are predicated on using in-built modes of assessment as well as user defined calculations.
The application is a forerunner in setting standards to cater for calculations that span the risk process from inherent risk (representing a failure mode) to residual (i.e. the current state) and target risk (desired) levels using different modes of assessment. The premise of these modes of assessment is that the risk analysis evolves over a life cycle and there is an appeal to build more accurate pictures of risk exposures.
Methods & Steps are designed in the application to allow the process to follow a structured and methodical process when engaging in an assessment. Each method allows for customizing virtually an unlimited number of steps.
A Risk Matrix is an essential tool in assessing risks. Whereas most software applications provide a static and fixed risk matrix, our software provides unparalleled flexibility to design your own risk matrix. A Risk Matrix has two dimensions, Likelihood (Probability) and Consequence (of an adverse event).
Since most software programmes provide risk matrices that are static i.e. pre-defined – our software for PRM stands apart and excels. It lets the user define a matrix with customised parameters. This is made possible by handing over total control on defining a Risk Matrix and its components, which are: Probability and Consequences and how these two interact to arrive at a risk score.
The Concept of Escalation
In risk management parlance an escalation means that someone may not have performed something to plan and an escalation is needed to forewarn the expert/professional or medical practitioner who has oversight responsibilities for the matter, so that backup action may be set in motion.
Personal Lifestyle Exposure Planning, makes use of the principles of financial planning and personal risk management (PRM) in a holistic personal planning approach to provide you with total financial, health and security peace of mind.
Personal risk management is a combination of the science and art of enterprise wide risk management, financial planning and personal wellness.
Within these 3 disciplines, you select the risk categories most relevant at this time. The risk categories provide the basis for your tailored and client-specific personal life plan (PLP) report.