# Innovative Approach to Conceptual Design of Enterprise Risk Management Software
## 3 Software Solution RMS  
The basic software solution for business risk management was initially developed within the Fund for Innovation project of the Republic of Serbia entitled \"Knowledge transfer through the design of a software application for managing business risks in business-production systems based on artificial intelligence\" (No. 1086). The RMS software, as it is now called, was developed by the authors of the aforementioned project and with same leading idea--to develop a software of this kind. It was completely refurbished with major improvements in software solutions and functionalities, and was implemented in the two following projects realized by companies in the fields of public transportation and the petroleum industry. In both cases, the software was the work of a completely new author. The petroleum industry is one of the leaders in the application of risk management, and therefore the software was developed for their needs. The initial version of Base Resource Document (BRD) was published in 1994 to an API lead sponsor group project. Since then, risk analysis has been applied in the petroleum industry and is an industry standard. ISO 31000 was adopted in 2009 and represents a basic, generally accepted methodology for risk analysis that is applicable regardless of industry. It is similar to the COSO framework.  
Figure 1: Methodology for the design of ERM software.  
The application itself in concrete organizations did not particularly affect the creation of software solutions, except for technical risks, but it was useful to bring the solutions closer to the practical needs of users.  
RMS version 0.955.230725 is a holistic risk management system with an integrated expert system for following purposes:  
* Implementation of the procedure of risk source identification in business-production systems;
* Usage of expert knowledge from more than 52 business areas;
* Usage of risk management standards like ISO 31000 and COSO approach;
* Usage of applicable technical standards like API 580;
* Integrated knowledge database allows updating, expanding, or adapting to a specific business-production decision tree system;
* Integrated knowledge database enables definition of new decision trees if a user has the need to store specific knowledge in the identification of risk sources that are characteristic for a particular business system.  
The RMS software solution for risk management contains several modules:  
1. Home page
2. Information
3. Master data  
1. Responsible persons (internal experts)
2. Expert team (external)
3. Structures
4. Organizational structure  
1. Hierarchical structure of processes
2. Hierarchical structure of strategic objectives
3. Hierarchical structure of business areas
4. Hierarchical structure of different risk groups
5. Project Management (management of tasks)
6. The Kinney Method
7. Risk-Based Inspections (API 580 and similar)
8. Questionnaires/Models
9. Hazards
10. Elements of analysis (Elements of risk matrices, Risk calculation, etc.)
11. Risks Register
1. New risk
2. List of risks
3. Risk cards
4. Registers
11. Risk Reports and Analysis
12. Detailed report
1. Occupancy overviews
2. Risk Score list (risks structured from largest to smallest (or by other criteria))
3. Ic-factor (Investment effectiveness) analysis
13. Administration
14. Logout