According to the Lone Star website, "Integrated Risk Management System (IRIS) was created to fill a capability gap in the enterprise risk management market. It is built on the COSO framework, which was designed to improve governance on risk management, internal control, and fraud deterrence. Lone Star saw limitations with the existing qualitative “stop light” analysis being delivered, and has implemented the COSO framework along with proven analytical techniques. Lone Star’s approach enables clients to truly quantify risk elements and their associated closure recommendations. This approach enables clients to generate real return on risk (RoR) calculations and effectively prioritize activities. This technology and its techniques can be used in multiple settings ranging from traditional Sarbanes-Oxley support to advanced cyber risk analysis applications.IRIS tells you how much you are paying for risk mitigation so you can make intelligent decisions on how to manage compliance and risk."
Integrated Product Support Elements Addressed
This tool was identified as part of a product support analytical tools database provided solely to assist defense acquisition workforce professionals to identify best value product support solutions which optimize system readiness and life cycle cost. Neither the Department of Defense or the Defense Acquisition University provide any warranty of these tools whatsoever, whether express, implied, or statutory, including, but not limited to, any warranty of merchantability or fitness for a particular purpose or any warranty that the contents of the item will be error-free. This analytical tools database should under no circumstances be considered as being all-encompassing, and is in no-wise meant to endorse the capabilities or products of any particular individual, company, or organization.