Accendo Reliability

Your Reliability Engineering Professional Development Site

  • Home
  • About
    • Contributors
  • Reliability.fm
    • Speaking Of Reliability
    • Rooted in Reliability: The Plant Performance Podcast
    • Quality during Design
    • Way of the Quality Warrior
    • Critical Talks
    • Dare to Know
    • Maintenance Disrupted
    • Metal Conversations
    • The Leadership Connection
    • Practical Reliability Podcast
    • Reliability Matters
    • Reliability it Matters
    • Maintenance Mavericks Podcast
    • Women in Maintenance
    • Accendo Reliability Webinar Series
  • Articles
    • CRE Preparation Notes
    • on Leadership & Career
      • Advanced Engineering Culture
      • Engineering Leadership
      • Managing in the 2000s
      • Product Development and Process Improvement
    • on Maintenance Reliability
      • Aasan Asset Management
      • AI & Predictive Maintenance
      • Asset Management in the Mining Industry
      • CMMS and Reliability
      • Conscious Asset
      • EAM & CMMS
      • Everyday RCM
      • History of Maintenance Management
      • Life Cycle Asset Management
      • Maintenance and Reliability
      • Maintenance Management
      • Plant Maintenance
      • Process Plant Reliability Engineering
      • ReliabilityXperience
      • RCM Blitz®
      • Rob’s Reliability Project
      • The Intelligent Transformer Blog
      • The People Side of Maintenance
      • The Reliability Mindset
    • on Product Reliability
      • Accelerated Reliability
      • Achieving the Benefits of Reliability
      • Apex Ridge
      • Metals Engineering and Product Reliability
      • Musings on Reliability and Maintenance Topics
      • Product Validation
      • Reliability Engineering Insights
      • Reliability in Emerging Technology
    • on Risk & Safety
      • CERM® Risk Insights
      • Equipment Risk and Reliability in Downhole Applications
      • Operational Risk Process Safety
    • on Systems Thinking
      • Communicating with FINESSE
      • The RCA
    • on Tools & Techniques
      • Big Data & Analytics
      • Experimental Design for NPD
      • Innovative Thinking in Reliability and Durability
      • Inside and Beyond HALT
      • Inside FMEA
      • Integral Concepts
      • Learning from Failures
      • Progress in Field Reliability?
      • R for Engineering
      • Reliability Engineering Using Python
      • Reliability Reflections
      • Testing 1 2 3
      • The Manufacturing Academy
  • eBooks
  • Resources
    • Accendo Authors
    • FMEA Resources
    • Feed Forward Publications
    • Openings
    • Books
    • Webinars
    • Journals
    • Higher Education
    • Podcasts
  • Courses
    • 14 Ways to Acquire Reliability Engineering Knowledge
    • Reliability Analysis Methods online course
    • Measurement System Assessment
    • SPC-Process Capability Course
    • Design of Experiments
    • Foundations of RCM online course
    • Quality during Design Journey
    • Reliability Engineering Statistics
    • Quality Engineering Statistics
    • An Introduction to Reliability Engineering
    • Reliability Engineering for Heavy Industry
    • An Introduction to Quality Engineering
    • Process Capability Analysis course
    • Root Cause Analysis and the 8D Corrective Action Process course
    • Return on Investment online course
    • CRE Preparation Online Course
    • Quondam Courses
  • Webinars
    • Upcoming Live Events
  • Calendar
    • Call for Papers Listing
    • Upcoming Webinars
    • Webinar Calendar
  • Login
    • Member Home

by Fred Schenkelberg Leave a Comment

The Check Step of a Risk Management Framework

The Check Step of a Risk Management Framework

Planning and Implementing a risk management framework is an admirable accomplishment. Now make sure it is running well and will do so into the future.

As with any process, there will be opportunities to make improvements. By monitoring and reviewing your program you will find what is working well and what is not.

4 Ways to Check Your Program

A cursory glance or quick thought about the risk management program is not going to be useful. Instead consider surveillance, monitor, review, and audit as four different levels of rigor for checking your program.

Surveillance is taking time to observe the operation of your risk management framework. It is operational, is it identifying appropriate risks, and are risks mitigated appropriately?

Monitor is the gathering of data and comparing results or metrics to targets. Your project may have key performance indicators concerning budget, time, quality, scope, timeliness, and costs.

Review is a periodic evaluation of the risk management program, organization, and competitive and customer landscape. The review may focus on elements used during the planning of the framework for the organization, such as environment, situation, or context. This is a check to determine if the implemented framework is suitable given changes since its design.

Audit is the detailed objective evaluation of the implemented framework. It addresses the ability of the implemented framework to meet the appropriate standards, such as ISO 31000.

Surveillance and monitoring are ongoing and routine checks of the program. The framework implementation should include scheduled reviews and audits as they take resources to make happen.

Why Do the Check Step?

Things change. From individuals within your organization, to duties and responsibility, to product technology and customer expectations, things change.

The ability to implement a risk management program that has the ability to identify, communicate, and mitigate salient risks requires ongoing adjustments and improvements to the program. The range and scope of potential risks will change, and a risk management program that worked well two years ago may miss critical risks today.

As an organization matures and as customers shift expectations, the organization’s risk appetite and risk tolerance will change as well. These changes may alter key elements of your program.

Risk controls, metrics, and reporting that works with a smaller team will become inadequate for a larger organization. Plan to evolve your program as your organization evolves.

Summary

Whether an interview review or extensive audit by an external agency you will learn how to improve your risk management framework implementation. Individuals within an organization tend to focus on what is measured, monitoring, reviews, and audits are the measure of program.

The output of the check step actions is a list of action items to enhance, improve, or adjust the organization’s risk management program. It is an ongoing process and built into the risk management framework.

Filed Under: Articles, CRE Preparation Notes, Risk Management Tagged With: audit, ISO 31000, Risk, risk management

About Fred Schenkelberg

I am the reliability expert at FMS Reliability, a reliability engineering and management consulting firm I founded in 2004. I left Hewlett Packard (HP)’s Reliability Team, where I helped create a culture of reliability across the corporation, to assist other organizations.

« Pioneers and The Settlers
Electric Motor Problems »

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

CRE Preparation Notes

Article by Fred Schenkelberg

Join Accendo

Join our members-only community for full access to exclusive eBooks, webinars, training, and more.

It’s free and only takes a minute.

Get Full Site Access

Not ready to join?
Stay current on new articles, podcasts, webinars, courses and more added to the Accendo Reliability website each week.
No membership required to subscribe.

[popup type="" link_text="Get Weekly Email Updates" link_class="button" ]

[/popup]

  • CRE Preparation Notes
  • CRE Prep
  • Reliability Management
  • Probability and Statistics for Reliability
  • Reliability in Design and Development
  • Reliability Modeling and Predictions
  • Reliability Testing
  • Maintainability and Availability
  • Data Collection and Use

© 2025 FMS Reliability · Privacy Policy · Terms of Service · Cookies Policy