Operational Risk Assessment

Risk comes to an organization in many different forms. Strategic planning processes help to identify those risks that may come to the organization from external sources while failure modes and effects analysis helps to identify those risks to producing a quality product or service internal to the organization.  A failure modes and effects analysis (FMEA) is a procedure for analysis of potential failure modes within a system for classification by severity or determination of the effect of failures on the system. It is widely used in manufacturing industries in various phases of the product life cycle and is now increasingly finding use in the service industry. Failure modes are any errors or defects in a process, design, or item, especially those that affect the customer, and can be potential or actual. Effects analysis refers to studying the consequences of those failures.

We can help if:

• You want to improve the quality, reliability and safety of a product/process.
• You want to improve company image and competitiveness.
• You need to increase user satisfaction.
• You need to reduce system development timing and cost.
• You need a system to collect information to reduce future failures, capture engineering knowledge.
• You need to reduce the potential for warranty concerns.
• You need a system to collect early identification and elimination of potential failure modes.
• You need to establish a culture with an emphasis on problem prevention.
• You need to minimize late changes and associated cost.
• You need culture change as a catalyst for teamwork and idea exchange between functions.
• You need to reduce the possibility of same kind of failure in future products or service delivery.