Deltek Announces RiskBook, A Revolutionary New Approach to Collaborative Risk Management

Deltek’s new cloud-based solution empowers teams with an innovative, consensus-based approach to creating and managing risk registers

HERNDON, Va. – July 10, 2014 – Deltek, the leading global provider of enterprise software and information solutions for professional services firms and government contractors, today announced the release of Deltek RiskBook, a new collaborative risk management solution that delivers an innovative, consensus-based approach to creating and managing risk registers.

Deltek RiskBook, delivered through the cloud, empowers companies to track project and corporate risks along with their associated mitigation strategies, to quickly and easily come to a true team consensus on the severity of these risks. This collaborative approach improves the accuracy risk registers by incorporating the experience and expertise of each key team member and drives teams to develop smarter and more effective ways to mitigate risks.

Through online voting in RiskBook, each participant is able to weigh-in on the probability of a risk occurring and the impact that risk will have if it does occur. Each vote is rolled up into a weighted average, or team consensus, which can be used to identify the largest threats. Deltek RiskBook also provides the ability to assign risks to certain owners, ensuring that each risk owner gets notified on outstanding tasks or when sign-off is needed. Risk management processes managed through RiskBook are more accurate, time wasted following up on risks is minimized, and information on risks are centralized – all due to RiskBook’s collaborative foundation and efficient workflows.

“Sometimes even the best planned projects fall victim to threats that can delay or even cancel a project. With RiskBook, companies can mitigate those threats by having the project team and the people closest to the project proactively identify and prepare for what could go wrong,” said Namita Dhallan, Executive VP of Product Strategy & Engineering at Deltek. “Riskbook eliminates the manual processes that can be incredibly time-consuming – making it easier for experts to weigh in on cost and schedule risks and ultimately increase forecast accuracy through collaboration.”

RiskBook integrates directly with Deltek’s schedule and cost risk analysis software, Acumen Risk. “RiskBook is the perfect addition to Acumen Risk, an already innovative risk analytics solution,” said Dr. Dan Patterson, VP of Product Strategy for Deltek. “While collaborative risk registers are far from being a new concept, the consensus-based approach that RiskBook is built upon is absolutely groundbreaking. For the first time, the voice and expert opinion of those that matter can be objectively incorporated into cost and schedule risk-adjusted forecasts.”

Deltek RiskBook is built on Kona, Deltek’s social collaboration and productivity platform. Kona is based around conversations and discussions enabling risks to be identified, mitigation strategies to be agreed upon, and expertise to be shared.

To learn more, you can view a recording of Deltek’s webinar Introduction to Deltek RiskBook: A Collaborative Risk Register.

About Deltek

Deltek is the leading global provider of enterprise software and information solutions for professional services firms and government contractors. For decades, we have delivered actionable insight that empowers our customers to unlock their business potential. 18,000 organizations and 2 million users in over 80 countries around the world rely on Deltek to research and identify opportunities, win new business, optimize resources, streamline operations, and deliver more profitable projects. Deltek – Know more. Do more.® www.deltek.com

For further information contact:

Lauran Cacciatori
Director, Corporate Marketing and Communications
Deltek
+1 703.885.9947
laurancacciatori@deltek.com