SDCExec.com |

Toronto — April 18, 2008 — Adding a new offering to its Stature Risk Management platform, Dyadem today announced a new enterprise risk lifecycle management software to help process manufacturers mitigate and monitor risks across their organizations.

Dyadem, a risk lifecycle management and quality lifecycle management firm, said it enhanced its Stature platform to help companies unify risk management on a single enterprise-wide platform.

Process manufacturing companies face not only regulatory hurdles but also day-to-day risks in the handling of chemicals and petrochemicals, according to Dyadem. From incident management and management of change through to action tracking, companies need the ability to share and communicate lessons learned and best practices, and continuously improve their risk management processes.

Risk lifecycle management can be a daunting task for any organization, and, with variations in global safety regulations, is best managed by a common enterprise platform. According to Dyadem, Stature RLM is built to mitigate risks, document processes and improve the safety and efficiency of process manufacturing, including industries like oil & gas, wastewater treatment, and chemical manufacturing. A common enterprise platform for risk lifecycle management provides a standard library for employees to reference when cataloging process risks and a mechanism for identifying best practices.

Organizations face regulations from agencies like the U.S. Occupational Safety & Health Administration (OSHA), which protects the safety and health of the nation's workforce; the U.S. Environmental Protection Agency (EPA) which works toward a cleaner, healthier environment for the American people; and the U.S. Department of Homeland Security (DHS), which responds to threats and hazards to the nation. Each regulation requires different paperwork, yet many are similar in their information gathering and methodologies. Dyadem said Stature RLM allows companies to capture information and assess risk from the various types of risk assessments, and then re-use the information in a variety of reports.

"The Stature Risk Lifecycle Management solution has helped us formalize and ensure risk reduction in our Management of Change process,” said Bruno Charest, manager of technical services, ParaChem Chemicals L.P. "We have realized many benefits from using the solution": increased visibility of risk across departments, standardization of processes and improved reporting capabilities. Based on the continued success with the Stature solution, we have decided to scale our implementation to include incident management."

Unidentified threats pose the greatest potential damage to businesses of all sizes, and Stature RLM helps organizations identify and prioritize risks that are often unaccounted for with spreadsheet- or clipboard-based risk management plans. Dyadem said most organizations use multiple, isolated systems for their risk lifecycle management and suffer excessive administration costs and disparate quality standards as a result.