• Foresight for Zoho Projects

    Foresight for Zoho Projects

    Foresight is a cloud-based enterprise risk management application that simulates the commercial risk for a project through risk assessments (RA) as well as identifying risk mitigations and then providing ongoing monitoring of these risks and controls. Every business requires strategic planning and a process to minimise losses due to risks that are incorrectly managed.

    Foresight uses a Monte Carlo simulation and is run regularly to "control" the commercial risk of a project or of any implemented changes. Also, Foresight fully integrates with Zoho Projects where proposed controls for risks become tasks in the project and risks that eventuate become issues within Zoho Projects.

    Zoho

    Zoho Projects is a cloud-based project management tool that helps you plan your work, track it efficiently, and collaborate with your team wherever they are. Zoho Projects breaks up a big project into easily manageable tasks with gantt charts showing dependencies,  "blueprint" diagrams mapping out workflows and Kanban views assisting with  prioritise tasks.  Identified controls in Foresight become tasks in Zoho Project.  Zoho Projects also utilise Feeds, Forums, Pages and Chat to assist with a better connected project team.

    Zoho Projects provides dashboards, reports and charts to provide data to make good decisions. Time tracking that is integrated with Zoho People and Payroll Hub for Zoho to assist with project status. Also, issues are organised based on severity or due date to ensure that they are accurately logged, tracked and rectified. This include any "realised" risks that are identified in Foresight.

    Foresight is available for a one-month free trial. Any questions please contact us here.  If you have an account, please create ticket with any question or issue. Or access our help desk.
    Access Foresight
    Access Foresight - India
    Plans
    Australia
    INDIA
    UK
    USA
    Australia
    Standard Plan
    $5
    AUD per user/month ex GST
    Very fast cloud-based Monte Carlo simulation
    Integration to Zoho Projects Tasks, Issues and Budget
    Unrestricted simulation samples
    Comprehensive reporting of results including histogram and tornado charts
    Share results as electronic interactive reports
    INDIA
    Standard Plan
    200
    Rupee per user/month
    Very fast cloud-based Monte Carlo simulation
    Integration to Zoho Projects Tasks, Issues and Budget
    Unrestricted simulation samples
    Comprehensive reporting of results including histogram and tornado charts
    Share results as electronic interactive reports
    UK
    Standard Plan
    £3
    GPB per user/month
    Very fast cloud-based Monte Carlo simulation
    Integration to Zoho Projects Tasks, Issues and Budget
    Unrestricted simulation samples
    Comprehensive reporting of results including histogram and tornado charts
    Share results as electronic interactive reports
    USA
    Standard Plan
    $4
    USD per user/month
    Very fast cloud-based Monte Carlo simulation
    Integration to Zoho Projects Tasks, Issues and Budget
    Unrestricted simulation samples
    Comprehensive reporting of results including histogram and tornado charts
    Share results as electronic interactive reports
    Key Features of the Foresight App
    Key Features - Sync
    The Foresight App enables multiple users to enter risks into the database which is also linked to Microsoft Project

    Risk Entry Database

    The Foresight app is a commercial risk app that integrates with Zoho Projects.  Commercial Risks are entered into a database which enables multiple users to access and input concurrently.  


    The risk entries include identified controls to reduce the risk, the reporter and the owner, the status, estimate basis, category, the date the risk was realised and the likelihood - resulting in a calculated and simulated risk value.

    Zoho Project Integration

    All commercial risks that are identified by any user that has access to a project in Zoho Projects are recorded in the Foresight App database that is linked back to the project.  The Foresight App Monte Carlo Simulation in the cloud can be run automatically or manually as required.  


    Any identified controls for a commercial risk are transfers as a 'task' within the Project in Zoho Projects.  Any commercial risks that are realised become an 'issue' within the project in Zoho Projects.

    Key Features - Mapping
    Database of risks for Zoho Projects in the Foresight App.
    Key Features - Sync
    The histogram shows the output from the Monte Carlo simulation

    Risk Simulation

    Monte Carlo simulation is a computerised mathematical technique that enables people to account for risk in quantitative analysis and decision making.  The technique is used by professionals in a variety of industries including finance, IT, project management, energy, manufacturing, engineering, research and development, defence, insurance, oil and gas, transportation and the environment.


    The Monte Carlo simulation provides the decision maker with a range of possible outcomes and the probability they will occur for any choice of action.  For example a P50 commercial risk indicates that 50% of time the project's final risk position will be higher 50% of the time.  A P90 commercial risk indicates that 10% of time the project's final risk position will be higher 10% of the time.

    Risk Sensitivity Analysis

    A tornado plot provides a sensitivity analysis for the identified risks in the Foresight App. The Tornado plot shows the influence of each commercial risk on the overall commercial risk value.


    A report is generated summarising the risk position, the P50, P90, a histogram and the tornado chart which can be used in the Zoho Projects reporting.


    Key Features - Mapping
    The tornado plot for the risks provide a sensitivity analysis to show the influence on the total commercial risk
    Key Features - Sync
    The output from the Monte Carlo simulation is provided on a Foresight Dashboard

    Foresight Enterprise Dashboard

    Foresight has a detail-oriented enterprise dashboard with summaries from the Monte Carlo simulations.  The simulation gives overall project risk output based on Deterministic Value, P10, P50 and P90, number and categories of risks outlined in a pie-chart, as well as a Histogram summary and Tornado Chart showing the sensitivity of the risks.


    Examples of Foresight Enterprise Risk Management applied to Industries

    Finance

    Enterprise risk management system for banking and financial industry calculates liquidity, shareholders, and other financial risks.

    Manufacturing

    From cost structure, market risks, competitiveness to other high-risk factors, be prepared at all times with effective RA.

    Software and R&D

    With risk assessment and evaluation, know the risk of untested, new ideas and more with the enterprise risk management system.

    Oil and Gas Projects

    Detect risks in volatile gas transportation and oil spills and get environmental, economic and political risk management.

    Transportation Projects

    Get transportation risk management for storage facility risks and more for road, aviation and marine transportation.

    Insurance

    Get insurance risk management to identify, assess and mitigate risks while protecting communities, companies and people.