WelcomRisk provides a structured means of identifying, tracking, mitigating, and reporting project risks and opportunities. This helps to minimize risk, maximize opportunity, and improve project performance. WelcomRisk combines an intuitive interface with a higher level of flexibility and granularity than other competing products. Fully Web-based, its flexible integration capabilities and tighter security controls provide companies with a better solution for enterprise risk management.

As part of the risk reduction process, WelcomRisk facilitates various types of risk responses: mitigation, avoidance, acceptance, and transfer. The most common approach to risk reduction is mitigation using a series of steps that are assigned to individuals. As steps are completed, the risk score is reduced accordingly until an acceptable level is achieved ("residual risk score"). Step logic can be defined and subsequently tracked throughout the lifecycle of the risk.