Risk issues in a production org

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Risk issues in a production org

  1. 1. Risk Management Munif Ahmad
  2. 2. Contents <ul><li>Risk Log </li></ul><ul><li>Risk Register </li></ul><ul><li>Scope </li></ul><ul><li>Identification of Risk </li></ul><ul><li>Significance of the Risk and Priorities </li></ul>
  3. 3. <ul><li>A listing of all identified potential risks. </li></ul><ul><li>When you look at all your risks (by process review, area review or even brainstorming potential risks) </li></ul>Risk Log
  4. 4. <ul><li>A record of the decisions made by the Risk Team relating to the management of actual risks. </li></ul><ul><li>Those which are higher risk, which need to be escalated to Site Quality Council go onto the risk register </li></ul>Risk Register
  5. 5. <ul><li>This process is generically applicable to any risk. However, the initial focus applies to product quality and associated compliance and business risk. </li></ul>Scope
  6. 6. Identification of Risks <ul><li>Risks can be identified in many ways and from many sources. </li></ul><ul><li>Examples of techniques which may be used for identifying risk: </li></ul><ul><li>Site surveys. </li></ul><ul><li>Interviews. </li></ul><ul><li>Scenario analysis. </li></ul><ul><li>Strengths, Weaknesses, Opportunities, Threats (SWOT) Analysis. </li></ul>
  7. 7. Identification of Risks <ul><li>Process flowcharting. </li></ul><ul><li>Brainstorming. </li></ul><ul><li>Audits. </li></ul><ul><li>Historical adverse events, significant events, near misses. </li></ul><ul><li>Experience. </li></ul><ul><li>Benchmarking. </li></ul>
  8. 8. <ul><li>  </li></ul>Identification of Risks <ul><li>What could go wrong? </li></ul><ul><li>Has anything changed? </li></ul><ul><li>What are the internal and external stakeholders’ expectations of the organisation’s activities? </li></ul>
  9. 9. <ul><li>  </li></ul>Identification of Risks <ul><li>What are the major regulatory and legal requirements to which the organisation / department is subject? </li></ul><ul><li>What are the risks that arise from the business processes? </li></ul><ul><li>What problems/adverse events have happened to the business unit, similar projects or competitors in the past? </li></ul>
  10. 10. Evaluate the Significance of the Risk and Priorities <ul><li>The individual risks should be categorized based on the following scoring system. </li></ul>Riskindex value in range 1-4 Low Priority (green) Risk index value in range 5-9 Medium Priority (amber) Risk index value in range 10-25 High Priority (red)
  11. 11. 5 x 5 Risk Index 5 4 3 2 1 Rare 1 10 8 6 4 2 Unlikely 2 15 12 9 6 3 Possible 3 20 16 12 8 4 Likely 4 25 20 15 10 5 Almost certain 5 Catastrophic 5 Major 4 Moderate 3 Minor 2 Insignificant 1 Likelihood Consequences
  12. 12. Risk Register Risk Log
  13. 13. ………… and Finally Thankyou

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