Question description
Part 2 750 words
Technology is rapidly changing and improving how we can profile risk. Increasingly this is allowing more sophisticated modelling of risk. The Bowtie approach is set to replace some older methods. This means increasingly software applications such as BowtieXP are becoming available to expedite this process. Hence, your boss has asked you to trial the program and give a report on the program in which you offer a recommendation as to go ahead and implement the program.
Your brief is to:
1. Download the Bowtie XP program, enter all your current data and attempt to produce a series of reports in order to examine the software features;
2. Write up a report to your boss detailing the:
a. Theoretical foundations of the program;
b. Produce a series of reports from the software;
c. Discuss the features and benefits of the software (you may like to insert the Bowtie reports and then discuss them individually);
d. A final recommendation stating whether your company should implement the program.
