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Embedding Risk Management Within The Organization

Embedding Risk Management Within The Organization
Whether you are in manufacturing, service industry of healthcare, embedding risk management into daily work is going to be a key challenge. It is often difficult because many risk managers and leaders don't really know how to do this. I am sharing the two key tips that can help you in being very successful in embedding risk management within your organization. Connect the dots: This deals with employees understanding and knowing the rules of the games and taking pride in their work as well as being engaged. The organization will be able to connect the dots for its employees when it is open, transparent and willing to share information on key metrics and performance such as Quality, Delivery, Safety, Cost and Morale. Sharing these metrics is the first step. There are many other next steps that should follow. We can help you and your organization in connecting your business Why with your ERM's Why? visit us at www.ermvoernance.com …
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Risk Assessment is a process that provides the required information to decision makers on the uncertainties in relation to specific goals or objectives. Conducting risk assessments helps organizations in managing uncertainties. Typically risk assessment process consists of two key tasks. First, to identify risks and second, to analyze the identified risks.

The effect of risk can be either positive or negative. The negative effect comes from not meeting goals or objectives. The positive effect comes from meeting or exceeding set goals.

Key goal of risk assessment is to inform management at all levels of the risks faced by the organization and how those risks affect the organization's ability to meet objectives, as well as to identify potential risk treatment options.

When assessing risks, the risk manager should be mindful of overall risk appetite and risk tolerance.

Risk Appetite is defined as the total exposed amount that an organization wishes to undertake on the basis of risk-…

Surgical Error - Why risk management often fails in healthcare

Human Resource Risk Management - Strategic and Operational Failure of TESLA

To: Everybody Subject: Some concerning news June 17, 2018 11:57 p.m. I was dismayed to learn this weekend about a Tesla employee who had conducted quite extensive and damaging sabotage to our operations. This included making direct code changes to the Tesla Manufacturing Operating System under false usernames and exporting large amounts of highly sensitive Tesla data to unknown third parties. The full extent of his actions are not yet clear, but what he has admitted to so far is pretty bad. His stated motivation is that he wanted a promotion that he did not receive. In light of these actions, not promoting him was definitely the right move. However, there may be considerably more to this situation than meets the eye, so the investigation will continue in depth this week. We need to figure out if he was acting alone or with others at Tesla and if he was working with any outside organizations. As you know, there are a long list of organizations that want Tesla to die. These include Wal…

How to benefit from a Fishbone or Ishikawa Diagram for Root Cause Analysis

What is root cause analysis?Root cause analysis is a structured process that helps healthcare, manufacturing and service sector managers and leaders in identifying contributing factors or causes of an accident, error, problem, event or occurrence. An accident, error, problem, event or occurrence are usually a result of a system rather than an individual mistakes. Understanding the system itself and contributing factors or causes of a system failure can help in preventing recurrences. Actions that are taken to address system failure helps in sustaining the improvements or corrective actions. What is a fishbone or ishikawa diagram? Each and every outcome or effect is an end result of actions taken/omitted or in general causes/ A cause and effect diagram representing this relationship between cause and effect is called a called a fishbone or ishikawa diagram. A fishbone diagram is a visual way to represent cause and effect. It is a more structured approach for brainstorming causes of a pro…