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PriorityPath® Technology
The Basis of Sage Analysis:
PriorityPath® is a tool that identifies and assesses events that can lead to failure of a given objective. It ranks the events and risks according to the impact they would have on the desired outcome. The events and risks considered include not only objectively identifiable risks but risk probabilities and possibilities that are derived subjectively.
PriorityPath® looks at:
- Relevant infrastructures
- Perceptions of stakeholders including inside personnel as well as outsiders whose judgments or activities have an impact on the organisation
- Political factors
- Organisational structures and climate
- Intangible elementsPriority
PriorityPath® increases the probability of success by identifying and removing likely sources of failure.
It enables managers to:
- Identify, quantify and prioritise issues/risks that have an impact on the organization.
- Generating savings by avoiding unnecessary expenditures
- Isolate and neutralize resistance to success
- Set true priorities
- Achieve defined goals more efficiently and effectively
- Perform rigorous due diligence activities
Proven mathematical models and procedures underlie PriorityPath®. The technology supersedes previous risk assessment models which were limited by their inability to analyse possibilities. PriorityPath® has the unique ability to not only generate accurate probabilities but also to account for the effects of future possibilities. This technology represents the most advanced development of risk analysis and overcomes restrictions associated with the classic assumption of independence of events.
PriorityPath® applications include:
- machine - machine interactions (hardware);
- person - machine interactions (operator); and
- person - person interactions (management).
To date, its dominant use has been in the management (person- person) area because of PriorityPath®'s ability to control for the extreme variance of subjectively based data.
To find out more about Sage Analytics NZ Ltd and PriorityPath®, click here.
To find out more about Priority Systems®, click here.
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