Project Mechanics recently completed an implementation of a Control Analysis Model (CAM). Running inside a BEA AquaLogic® User Interaction Portal. The solution used HandySoft BizFlow work engine to facilitate maintenance of policies and procedures. Once created, the policies and procedures were mapped to both internal and external best practice frameworks. This created the ability for users to view the complete policy and procedure library via multiple contexts.
Comparing a corporation's processes and controls to both regulatory requirements and best practice frameworks is a key component of evaluating risk, process improvement and control automation. The ability to analyze the maturity of an organization from a process and control perspective is essential to developing a strategy to increase that level of maturity through the introduction of new technology solutions or new process sourcing solutions.
The process of evaluating enterprise risk should begin with creation of a clear baseline of the current process and control environment. Once defined, the baseline model is initially used to perform a "Gap Analysis" of an organization’s process and control hierarchy.
Most organizations rely on consultants, after many hours of interviews, analysis and data entry, to build complex spreadsheets that are used for process and control analysis. In order to manage risk, executives need the ability to define a clear process and control strategy for their enterprise. This model will provide just that capability. Utilizing an advanced control analysis model, the team can rapidly analyze the process and control hierarchy and complete the initial gap analysis process. The analysis will be driven by risk management, leading practices and business requirements that are relevant to your organization