Risk Management Plan Archives - Accendo Reliability

Reliability and Implementing a Risk Management Plan

With the advent of ISO 31000 and other ISO standards suggesting organizational risk management practices, your organization may have or soon will implement a risk management plan. Reliability of your products, systems, or assets is an element of the organization’s risk profile.

As reliability professionals, your knowledge and skills are a natural fit within any risk management plan. You may focus exclusively on the reliability performance-related risks You may find the skills and tools to identify and mitigate risks play an important role beyond just reliability performance.

Large and small organizations face risks. The lines of communication differ as do the context, culture, and management practices between any two organization. The implementation of a risk management plan has to fit your organization.

Here are few general guidelines and practical considerations when implementing your organization’s risk management plan. [Read more…]

by Greg Hutchins Leave a Comment

Unaddressed Risk

Guest Post by Paul Kostek (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

What’s the risk of not addressing a risk? What happens on a project when a risk is identified and not addressed/mitigated? There may be reasons not to correct it, e.g low probability of occurrence and minimal impact, but how do we document and track this decision? And if we’re delaying an implementation how do we insure the risk is addressed at a later date, e.g. next version release? How do we insure that if an audit takes place the project team can clearly explain the reasons for the decision? Is this even acceptable? [Read more…]