Risk Management

REDUCE COSTS – ANALYZE TRENDS – IMPROVE PROCESS

Risk management failures are often viewed as just the result of unfortunate events, reckless behavior, or bad judgment. They are not.

80% WASTE

Reduction (Lean)

80% VARIATION

Reduction (6 SIGMA)

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The Key to Consistent High-Quality Production

Document, Analyze, and Track the Mitigation of Risks.

Describe a potential risk, assign analysis responsibility, and risk likelihood and severity. Risk controls and their implementation helps to mitigate potential negative factors of any identified risk.

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Analysis shows that many risks are due to systemic problems that could have been addressed with a more proactive enterprise risk management process.

  • Failure to communicate risks to top management
  • Failure to manage and monitor risks
  • Failure to use appropriate risk metrics

Analysis shows that many risks are due to systemic problems that could have been addressed with a more proactive enterprise risk management process.

  • Failure to communicate risks to top management
  • Failure to manage and monitor risks
  • Failure to use appropriate risk metrics

Analysis and Reporting: Look at the how, what, and why the risk occurred and determine a better way forward, avoid problems, costly mistakes, and unnecessary time spent

Assign risk probability, from improbable to frequent and risk classifications, from negligible to catastrophic.

Digitally sign off on final requirements specifications, and ensure oversight ranging from management to end user.

Create risk controls and estimate implementation costs.

Bottom line, risks are costly. Risk identification and review are the first steps in saving valuable time, and money

Faster risk resolution – when the proper parties are made aware of risky processes

Positive change – when scope and potential solutions have been agreed upon

Reduce revenue loss Once steps are taken to alleviate a risk, the potential for future impacts declines

Call 800-ISO-9000 to Schedule a Demo or Email