it all depends on which type of risks you want to manage. For example, QRM is widely used in the market risk environment, yet tools like Excel are widely implemented for recording and assessing operational risks. Whatever tool you use the principles are the same, record the risk, asses the inherent and residual risk and decide what the actions are to mitigate the risk should it materialise. No system is going to do that for you. At best it will help you monitor your positions and exposure (QRM).
by
Carsten Ulrich Durchholz , Owner , Carsten Durchholz Consulting
Even if it may sound lame, my answer is: The one that suits your companies size, profession, structures and culture best. You can buy the Rolls-Royce of all systems, but if its philosophy and structures do not fit your company's habits, you have won nothing. I also recommend not to be tempted by buying and overly ambitious product. The more sophisticated the product, the more time you spend with administration. And spend a lot of time testing user friendlyness and acceptance. You want the people in the organisation taking care of the risks and not discussing the risk Software.
