EasyProblemSolving
Manage your Risks
Each time we got out to solve a problem - we implement a change - each change brings risks along.
Every process has inherent risks - the better the controls, lower the risks .
Use the tools below identify risks, understand them , and eliminate them or reduce their event occurrences.
FMEA - Failure Mode Effect Analysis
Expanded as Failure Mode Effect Analysis
It is a risk management tool - starts with review of the process for failure modes (what could go wrong) , then their effects, then causes of the failure modes. It also takes in to account the current controls in place to prevent failure.
The severity of failure effect; occurrence frequency of causes and ability to detect (of the current controls) are all rated and multiplied to produce a RPN -risk priority number; which once sorted in descending order can tell the high priority risk areas.
Poke - Yoke , Mistake Proofing
Once you find your top risks thru FMEA , then what ? One technique to use - is Poke - Yoke
Poke Yoke is Japanese for mistake proofing
It refers to any inexpensive mechanism - that prevents the operator from doing an error.
So its waste elimination directed mostly at removing human error either by removing the cause or by eliminating the chance of error by stopping the process
ECRS
This is perhaps one of the lesser known techniques. Expanded as Eliminate, Combine, Rearrange & Simplify
It is one of the lean improvement methods. Idea is to look at the process and ask ECRS questions and then execute to remove / reduce risks.
Find out more about ECRS and suggested questions to ask here
PDPC - Process Decision Program Chart
Another use of tree diagram. Its used to consider various risks in implementation and planning their responses/ contingencies.
Project Risk Management
Managing risks in a project is one of the most important responsibilities of the project manager. A PM with the team needs to be able identify , evaluate risks, plan, implement and monitor risk