Press Release
iJET Develops Travel Risk Management Maturity Model™ to Benchmark Programs
Model Helps Organizations Invest Wisely to Limit Liability
Annapolis, Maryland - November 14, 2006
iJET Intelligent Risk Systems, a leading provider of global intelligence, operating risk management technology and integrated emergency response services, has developed the Travel Risk Management Maturity Model™ (TRM3™), an innovative framework enabling organizations to assess their travel risk management programs and benchmark against others in the marketplace.
Based on similar models from the information technology and program management fields, iJET’s TRM3 addresses an industry need for a standardized method by which to evaluate travel risk management programs. TRM3 allows for equivalent comparison of such programs across any industry and provides corporate and government organizations a way to develop, refine and improve their travel risk management processes and programs, ultimately improving them over time.
"Managing travel risk has become a large and onerous part of the expanding role of the corporate travel manager,” said Bill Connors, Executive Director and COO of the National Business Travel Association. “Travel managers are increasingly seen as strategic players within their companies, and risk management tools are increasingly part of a good travel manager's portfolio."
"Since 2001, organizations have been searching for creative best practice initiatives revolving around the safety and security of their traveling population," said Carol Ann Salcito, President of Management Alternatives, Inc. "When utilized and properly analyzed, TRM3 will give travel managers another opportunity to showcase their ever-increasing value to the business traveler and the organization."
TRM3 defines the maturity of an organization’s travel risk management program based on a set of key process areas (KPAs) that are required to implement and support a successful program. The KPAs include Policy/Procedures, Training, Risk Assessment, Risk Disclosure, Risk Monitoring, Data Management, Communications and Response. Using iJET’s TRM3 model and evaluation process, companies can assess and rate each KPA – and, ultimately, their overall programs – across five levels of maturity: Reactive, Defined, Proactive, Managed and Optimized.
“When organizations have a way to rate the maturity of their TRM programs in comparison with others in their respective industries, they’re able not only to improve effectiveness and prioritize for improvement, but they may also ensure that they remain competitive in changing times,” said Bruce McIndoe, CEO of iJET Intelligent Risk Systems.
To request a copy of iJET’s complete white paper on TRM3, or to obtain additional information on the model, please contact sales@ijet.com.
About iJET Intelligent Risk Systems
iJET Intelligent Risk Systems is a leader in business resiliency, helping multinational corporations and government organizations monitor, protect against and respond to global threats. Integrating world-class open source intelligence with patented technology, iJET’s award-winning Worldcue® solutions help clients monitor and assess global threats relative to their key people, facilities and supply chain assets; automatically track and communicate with travelers and expatriates; and deploy emergency response services throughout the world at a moment's notice. Providing a unified view of threats to assets, iJET enables clients to mitigate risks, reduce corporate liability and prepare for and respond to business disruptions.
