iJET develops benchmark system

iJET Intelligent Risk Systems has developed the Travel Risk Management Maturity Model(tm) (TRM3(tm)), 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