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GBTA Launches New Travel Risk Management Assessment Tool

April 11, 2016 Business News No Comments Email Email

The GBTA Foundation – the education and research arm of the Global Business Travel Association – today announced the launch of the new Travel Risk Management Maturity Model (TRM3™) Self-Assessment Tool. The update to the TRM3 tool was created in partnership with iJET International thanks to a special task force of GBTA members and industry experts.

“This single biggest issue for our members right now is duty of care,” said Michael W. McCormick, GBTA Executive Director and COO. “A recent lightning poll survey of our global members following the terror attacks in Brussels showed 20 percent of organizations do not have a risk management plan in place and an additional 8 percent are unsure if they have a plan. Clearly there is work that still needs to be done. The new TRM3 tool is designed to help companies evaluate their risk management program and identify opportunities for improvement.”

“Empowering organizations to protect their people, assets and reputation with the right solutions. That is why we come together to share best practices and provide operational standards for success,” said iJET CEO, Bruce McIndoe. “At the end of the day, keeping people safe is really what matters.”

The new tool is a major update over the current TRM3 tool in place and now assesses each key performance area of a travel risk management program in greater detail and also provides specific recommendations to help companies take their program to the next level. The TRM3 can help guide efficient, effective improvement across multiple process disciplines within an organization – legal, HR, travel, safety, security and business continuity.

The self-assessment tool looks at the following nine categories: policies and procedures, education and training, risk assessment, risk disclosure, risk monitoring, response and recovery, notification, data management and program communication. Based on the answers, it rates your program from “Level 1″ defined as reactive up to “Level 5,” which is defined as optimized indicating that the travel risk program is integrated throughout the organization.

The tool is available now for GBTA members.

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