RISKS. Diane Van Hoy and Jacob Kloos

Size: px
Start display at page:

Download "RISKS. Diane Van Hoy and Jacob Kloos"

Transcription

1 RISKS Diane Van Hoy and Jacob Kloos

2 Purpose of our Presentation Explain what risks are and the need for identifying them Explore 3 different techniques used to discover, assess, rank, and mitigate risk o o o Risk management Fault tree analysis Failure mode effects analysis Identify the different types of risks that can occur throughout the project life cycle Relate risks to our rover design project

3 Risks Risks are potential events that have a negative impact on safety or project technical performance Risks are unavoidable, but can be mitigated through good planning, project management, learning from past mistakes, extensive testing, thorough analysis of subsystems and their interfaces, etc. It is important to address risks because they jeopardize the success of the mission

4 Risk Management Think about sources, severity, and mitigation of risk Same tools for risk can be used for project opportunities Ongoing and iterative process to improve the likelihood of success Identify, Analyze, Plan, Track, and Control risk Consider entire development and operations life of project

5 Risk identification and Assessment Done by development team, peer review, past experience and expert review Past lessons captured by trigger questions Assess by likelihood and severity Comparison can be done with iso-curves Assessment is subjective and has high uncertainty

6 Underlying Sources of Risks Technical complexity Organizational complexity Inadequate margins or reserves Inadequate implementation plans Unrealistic schedules Over-optimistic designs pressured by mission expectations Limited engineering analysis and understanding due to inadequate engineering tools and models Inadequately trained or inexperienced project personnel

7 5X5 risk matrix Schedule slip Cost Overrun Loss of Power Loss of communication Loss of Mobility Single wheel failure

8 Fault Tree Analysis Fault Tree Analysis uses a top-down symbolic logic model and estimates of failure probabilities of initiators to estimate the occurrence (failure) of the pre-determined, undesirable, top event An initiator is a credible undesirable event that is a contributing cause to top event failure Cut sets are groups of initiators, when taken together, cause top event failure Path sets are groups of initiators that if none occur the top event does not fail FTA is both a design and a diagnostic tool As a design tool FTA is used to compare alternative design solutions and the resulting TOP event probability

9 Fault Tree Analysis Taken from Fault-tree.net

10

11 Fault Tree Analysis

12 Failure Mode Effects Analysis From

13 Risk Types Risk Type Technical Performance Risk Cost Risk Programmatic Risk Schedule Risk Liability Risk Regulatory Risk Operational Risk Safety Risk Supportability Risk Example Failure to meet requirement during test like level of identification accuracy for minerals or communication rate Failure to stay within the cost cap for the project Failure to secure long-term political support Failure to meet a critical launch window Rocket crashes before reaching the moon to deliver rover Failure to get approval for hazardous material like ASRG or faliure to planetary protection requirements Failure of rover: something like a failure to communicate Hazardous material release from ASRGs during ground operations Failure to resupply humans as needed

14 Risks With Our Lunar Rover Design Loss of mobility - in-situ measurements only Loss of communication - end of mission Loss of power - end of mission Main computer failure - end of mission Instrument failure - continue with other instrument Partial loss of mobility - hobble along if possible Overheating and radiation - try to mitigate with radiators and shielding

15 Summary Risk is inevitable, so risks can be reduced but not eliminated. Risk management is a proactive systematic approach to assessing risks, generating alternatives and reducing cumulative project risk. Fault Tree Analysis is both a design and a diagnostic tool that estimates failure probabilities of initiators to estimate the failure of the pre-determined, undesirable, top event. Failure Mode Effects Analysis is a design tool for identifying risk in the system design, with the intent of mitigating those risks with design changes. Risks occur throughout the entire project life cycle

16 Backup Slides

17 Severity Ranking Criteria (FMEA)

18 Severity Level Definitions (FMEA)

19 Occurrence Ranking Criteria (FMEA)

20 Detection Ranking Criteria (FMEA)

Risk Assessment for Drug Products with Device Components

Risk Assessment for Drug Products with Device Components Risk Assessment for Drug Products with Device Components Khaudeja Bano, M.D. Senior Medical Director, Medical Device Safety Head, Pharmacovigilance and Patient Safety AbbVie Inc. Process consisting of:

More information

Master Class: Construction Health and Safety: ISO 31000, Risk and Hazard Management - Standards

Master Class: Construction Health and Safety: ISO 31000, Risk and Hazard Management - Standards Master Class: Construction Health and Safety: ISO 31000, Risk and Hazard Management - Standards A framework for the integration of risk management into the project and construction industry, following

More information

Risk Analysis and Management. May 2011 ISO 14971

Risk Analysis and Management. May 2011 ISO 14971 Risk Analysis and Management Qsite May 2011 ISO 14971 1 Agenda Definitions Risk Management Development Phases Process Hazards Evaluation Residual Risk 2 Why Do We Need Risk Analysis 1. Quantify the risk

More information

Risk Management. CITS5501 Software Testing and Quality Assurance

Risk Management. CITS5501 Software Testing and Quality Assurance Risk Management CITS5501 Software Testing and Quality Assurance (Source: Pressman, R. Software Engineering: A Practitioner s Approach. McGraw-Hill, 2005) 2017, Semester 1 Definition of Risk A risk is a

More information

Risk Video #1. Video 1 Recap

Risk Video #1. Video 1 Recap Risk Video #1 Video 1 Recap 1 Risk Video #2 Video 2 Recap 2 Risk Video #3 Risk Risk Management Process Uncertain or chance events that planning can not overcome or control. Risk Management A proactive

More information

Crowe, Dana, et al "EvaluatingProduct Risks" Design For Reliability Edited by Crowe, Dana et al Boca Raton: CRC Press LLC,2001

Crowe, Dana, et al EvaluatingProduct Risks Design For Reliability Edited by Crowe, Dana et al Boca Raton: CRC Press LLC,2001 Crowe, Dana, et al "EvaluatingProduct Risks" Design For Reliability Edited by Crowe, Dana et al Boca Raton: CRC Press LLC,2001 CHAPTER 13 Evaluating Product Risks 13.1 Introduction This chapter addresses

More information

LCS International, Inc. PMP Review. Chapter 6 Risk Planning. Presented by David J. Lanners, MBA, PMP

LCS International, Inc. PMP Review. Chapter 6 Risk Planning. Presented by David J. Lanners, MBA, PMP PMP Review Chapter 6 Risk Planning Presented by David J. Lanners, MBA, PMP These slides are intended to be used only in settings where each viewer has an original copy of the Sybex PMP Study Guide book.

More information

Common Safety Method (CSM) for risk assessment (Regulations 352/2009 & 402/2013)

Common Safety Method (CSM) for risk assessment (Regulations 352/2009 & 402/2013) Common Safety Method (CSM) for risk assessment (Regulations 352/2009 & 402/2013) inland transport of dangerous goods - Lille, 8-9 th October 2013 E-mail: CSM.risk_assessment@era.europa.eu Slide n 1 Introduction

More information

Haeryip Sihombing 1. Risk. Risk Management

Haeryip Sihombing 1. Risk. Risk Management Project Management Managing Risk 7 Haeryip Sihombing Universiti Teknikal Malaysia Melaka (UTeM) BMFP 4542 1 2 Risk Management Process The Risk Event Graph Risk Uncertain or chance events that planning

More information

Risk Management & FMEAs. By Jay P. Patel, ASQ Fellow CEO & President QPS Institute

Risk Management & FMEAs. By Jay P. Patel, ASQ Fellow CEO & President QPS Institute Risk Management & FMEAs By Jay P. Patel, ASQ Fellow CEO & President QPS Institute Learning Objectives Understand Risk management process elements Learn the principles involved in the Risk process Know

More information

Kidsafe NSW Risk Management Plan. August 2014

Kidsafe NSW Risk Management Plan. August 2014 Kidsafe NSW Risk Management Plan August 2014 Document Control Document Approval Name & Position Signature Date Document Version Control Version Status Date Prepared By Comments Document Reviewers Name

More information

Helioseismic and Magnetic Imager for Solar Dynamics Observatory

Helioseismic and Magnetic Imager for Solar Dynamics Observatory Helioseismic and Magnetic Imager for Solar Dynamics Observatory Concept Study Report Appendix G Risk Management Plan LMSAL-2H00075 1 July 2003 Stanford University Hansen Experimental Physics Laboratory

More information

Risk Management Plan for the <Project Name> Prepared by: Title: Address: Phone: Last revised:

Risk Management Plan for the <Project Name> Prepared by: Title: Address: Phone:   Last revised: for the Prepared by: Title: Address: Phone: E-mail: Last revised: Document Information Project Name: Prepared By: Title: Reviewed By: Document Version No: Document Version Date: Review Date:

More information

Table of Contents Advantages Disadvantages/Limitations Sources of additional information. Standards, textbooks & web-sites.

Table of Contents Advantages Disadvantages/Limitations Sources of additional information. Standards, textbooks & web-sites. Table of Contents Table of Contents 1. Consequence Analysis & Risk Reduction Option Selection 1.1. A description of the techniques, including its purpose 1.1.0.. Introduction 1.1.0.3. Consequence Analysis

More information

Project Risk Management

Project Risk Management Project Risk Management Introduction Unit 1 Unit 2 Unit 3 PMP Exam Preparation Project Integration Management Project Scope Management Project Time Management Unit 4 Unit 5 Unit 6 Unit 7 Project Cost Management

More information

RISK EVALUATIONS FOR THE CLASSIFICATION OF MARINE-RELATED FACILITIES

RISK EVALUATIONS FOR THE CLASSIFICATION OF MARINE-RELATED FACILITIES GUIDE FOR RISK EVALUATIONS FOR THE CLASSIFICATION OF MARINE-RELATED FACILITIES JUNE 2003 American Bureau of Shipping Incorporated by Act of Legislature of the State of New York 1862 Copyright 2003 American

More information

RISK MANAGEMENT and ISO 17025:2017

RISK MANAGEMENT and ISO 17025:2017 RISK MANAGEMENT and ISO 17025:2017 Dr. Bill Hirt Global Technical Advisor ANAB / ANSI-ASQ National Accreditation Board January 31, 2018 Outline of Sections Introduction of ANAB Risk management consistency

More information

RISK MANAGEMENT MANUAL

RISK MANAGEMENT MANUAL ABN 70 074 661 457 RISK MAGEMENT MANUAL QUALITY ASSURANCE - ISO 9001 ENVIRONMENTAL MAGEMENT - ISO 14001 OCCUPATIOL HEALTH AND SAFETY - AS 4801 This is a Controlled Document if stamped CONTROLLED in RED.

More information

We will begin the web conference shortly. When you arrive, please type the phone number from which you are calling into the chat field.

We will begin the web conference shortly. When you arrive, please type the phone number from which you are calling into the chat field. Welcome We will begin the web conference shortly. When you arrive, please type the phone number from which you are calling into the chat field. To login to the audio portion of the web conference, dial

More information

Project Management. Managing Risk. Clifford F. Gray Eric W. Larson Third Edition. Chapter 7

Project Management. Managing Risk. Clifford F. Gray Eric W. Larson Third Edition. Chapter 7 Project Management THE MANAGERIAL PROCESS Clifford F. Gray Eric W. Larson Third Edition Chapter 7 Managing Risk Copyright 2006 The McGraw-Hill Companies. All rights reserved. PowerPoint Presentation by

More information

RISK ASSESSMENT IN SHIP OPERATIONS

RISK ASSESSMENT IN SHIP OPERATIONS RISK ASSESSMENT IN SHIP OPERATIONS Background How we define Risk? Risk include any possible change of undesirable, adverse consequences to human life, health, property, or the environment. the threat or

More information

Managing Project Risk DHY

Managing Project Risk DHY Managing Project Risk DHY01 0407 Copyright ESI International April 2007 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or

More information

EFFECTIVE TECHNIQUES IN RISK MANAGEMENT. Joseph W. Mayo, PMP, RMP, CRISC September 27, 2011

EFFECTIVE TECHNIQUES IN RISK MANAGEMENT. Joseph W. Mayo, PMP, RMP, CRISC September 27, 2011 EFFECTIVE TECHNIQUES IN RISK MANAGEMENT Joseph W. Mayo, PMP, RMP, CRISC September 27, 2011 Effective Techniques in Risk Management Risk Management Overview Exercise #1 Break Risk IT Exercise #2 Break Risk

More information

Streamlining Risk Management Evaluations for New Manufacturing Processes

Streamlining Risk Management Evaluations for New Manufacturing Processes May 1-3, 2012 Javits Center New York, NY Streamlining Risk Management Evaluations for New Manufacturing Processes Mike Porter Consultant Commissioning Agents, Inc. Title Date Javits Center New York, NY

More information

Unit 9: Risk Management (PMBOK Guide, Chapter 11)

Unit 9: Risk Management (PMBOK Guide, Chapter 11) (PMBOK Guide, Chapter 11) Some exam takers may be unfamiliar with the basic concepts of probability, expected monetary value, and decision trees. This unit will review all these concepts so that you should

More information

RISK MANAGEMENT: WHAT HAVE WE LEARNED? AFDO 2009 CAPT JOSEPH L. SALYER, RS, MPH FDA, CDRH, OC

RISK MANAGEMENT: WHAT HAVE WE LEARNED? AFDO 2009 CAPT JOSEPH L. SALYER, RS, MPH FDA, CDRH, OC RISK MANAGEMENT: WHAT HAVE WE LEARNED? AFDO 2009 CAPT JOSEPH L. SALYER, RS, MPH FDA, CDRH, OC CDRH MISSION CDRH promotes and protects the health of the public by ensuring the safety and effectiveness of

More information

Management Oversight and Risk Tree

Management Oversight and Risk Tree 13 Management Oversight and Risk Tree 13.1 INTRODUCTION The management oversight and risk tree (MORT) was originally conceived and developed in 1970 by W. G. (Bill) Johnson at the request of the Energy

More information

Business Auditing - Enterprise Risk Management. October, 2018

Business Auditing - Enterprise Risk Management. October, 2018 Business Auditing - Enterprise Risk Management October, 2018 Contents The present document is aimed to: 1 Give an overview of the Risk Management framework 2 Illustrate an ERM model Page 2 What is a risk?

More information

Fundamentals of Project Risk Management

Fundamentals of Project Risk Management Fundamentals of Project Risk Management Introduction Change is a reality of projects and their environment. Uncertainty and Risk are two elements of the changing environment and due to their impact on

More information

For the PMP Exam using PMBOK Guide 5 th Edition. PMI, PMP, PMBOK Guide are registered trade marks of Project Management Institute, Inc.

For the PMP Exam using PMBOK Guide 5 th Edition. PMI, PMP, PMBOK Guide are registered trade marks of Project Management Institute, Inc. For the PMP Exam using PMBOK Guide 5 th Edition PMI, PMP, PMBOK Guide are registered trade marks of Project Management Institute, Inc. 1 Contacts Name: Khaled El-Nakib, MSc, PMP, PMI-RMP URL: http://www.khaledelnakib.com

More information

Job Safety Analysis Preparation And Risk Assessment

Job Safety Analysis Preparation And Risk Assessment Job Safety Analysis Preparation And Risk Assessment Sample Only Reference CPL_PCR_JSA_Risk_Assessment Revision Number SAMPLE ONLY Document Owner Sample Date 2015 File Location Procedure Revision Date Major

More information

Risk Management Plan for the Ocean Observatories Initiative

Risk Management Plan for the Ocean Observatories Initiative Risk Management Plan for the Ocean Observatories Initiative Version 1.0 Issued by the ORION Program Office July 2006 Joint Oceanographic Institutions, Inc. 1201 New York Ave NW, Suite 400, Washington,

More information

The Basics of Risk Management

The Basics of Risk Management The Basics of Risk Management Greg Sepeda, PE Sigma Consulting Group, Inc. Louisiana Transportation Conference March 1, 2016 The Basics of Risk Management What Why When Who and How? What is Risk? Risk

More information

ก ก Tools and Techniques for Enterprise Risk Management (ERM)

ก ก Tools and Techniques for Enterprise Risk Management (ERM) ก ก Tools and Techniques for Enterprise Risk Management (ERM) COSO ERM ISO ERM 31 2554 10:45 12:15.. 301, 302, 307 ก ก COSO Internal Control ERM Integrated Framework Application Technique ISO 31000 Guide

More information

Risk Management Policy

Risk Management Policy Risk Management Policy Contents Executive summary... 3 Aim & introduction... 3 Definitions... 3 Consequence... 3 Event... 3 Likelihood... 3 Risk... 4 Risk Appetite... 4 Risk Management... 4 Risk Management

More information

Risk Management Relevance to PAS 55 (ISO 55000) Deciding on processes to implement risk management

Risk Management Relevance to PAS 55 (ISO 55000) Deciding on processes to implement risk management Risk Management Relevance to PAS 55 (ISO 55000) Deciding on processes to implement risk management Jeff Hollingdale DQS South Africa jeffh@dqs.co.za PAS 55 Risk Management The guideline states: (4.4.7);

More information

7/25/2013. Presented by: Erike Young, MPPA, CSP, ARM. Chapter 2. Root Cause Analysis

7/25/2013. Presented by: Erike Young, MPPA, CSP, ARM. Chapter 2. Root Cause Analysis Presented by: Erike Young, MPPA, CSP, ARM 1 Chapter 2 Root Cause Analysis 1 Introduction to Root Cause Analysis Root Cause The event or circumstance that directly leads to an occurrence Root Cause Analysis

More information

0470_022817_03_chap01.fm Page 11 Wednesday, September 8, :29 PM. Part I The basics of project risk management

0470_022817_03_chap01.fm Page 11 Wednesday, September 8, :29 PM. Part I The basics of project risk management 0470_022817_03_chap01.fm Page 11 Wednesday, September 8, 2004 3:29 PM Part I The basics of project risk management 0470_022817_03_chap01.fm Page 12 Wednesday, September 8, 2004 3:29 PM 0470_022817_03_chap01.fm

More information

Access the Mobile App: Or Search in your App store: COSC2015. #IATA_CabinSafety

Access the Mobile App:  Or Search in your App store: COSC2015. #IATA_CabinSafety Welcome! Access the Mobile App: http://eventmobi.com/cs2015 Or Search in your App store: COSC2015 #IATA_CabinSafety Risk Assessment: Identifying your safety risks Facilitator: Nancy Rockbrune Assistant

More information

Certified in Risk and Information Systems Control

Certified in Risk and Information Systems Control Certified in Risk and Information Systems Control Dumps Available Here at: /isaca-exam/crisc-dumps.html Enrolling now you will get access to 540 questions in a unique set of CRISC dumps Question 1 Which

More information

Common Safety Methods CSM

Common Safety Methods CSM Common Safety Methods CSM A common safety method on risk evaluation and assessment Directive 2004/49/EC, Article 6(3)(a) Presented by: matti.katajala@safetyadvisor.fi / www.safetyadvisor.fi Motivation

More information

Chapter 7: Risk. Incorporating risk management. What is risk and risk management?

Chapter 7: Risk. Incorporating risk management. What is risk and risk management? Chapter 7: Risk Incorporating risk management A key element that agencies must consider and seamlessly integrate into the TAM framework is risk management. Risk is defined as the positive or negative effects

More information

Stochastic SIL Verification for Complex Safety Instrumented Systems

Stochastic SIL Verification for Complex Safety Instrumented Systems Stochastic SIL Verification for Complex Safety Instrumented Systems Sara Shahidi and Dr. Mehran Pourzand, Monaco Engineering Solutions Limited To ensure a Safety Instrumented System (SIS) is capable of

More information

Multidimensional RISK For Risk Management Of Aeronautical Research Projects

Multidimensional RISK For Risk Management Of Aeronautical Research Projects Multidimensional RISK For Risk Management Of Aeronautical Research Projects RISK INTEGRATED WITH COST, SCHEDULE, TECHNICAL PERFORMANCE, AND ANYTHING ELSE YOU CAN THINK OF Environmentally Responsible Aviation

More information

Intermediate Systems Acquisition Course. Integrated Baseline Reviews (IBRs)

Intermediate Systems Acquisition Course. Integrated Baseline Reviews (IBRs) Integrated Baseline Reviews (IBRs) Holding an IBR is a best practice for all programs, and it supports the implementation of an earned value management system (EVMS). EVM can be a valuable tool for controlling

More information

RISK M A N A G E M E N T P L A N

RISK M A N A G E M E N T P L A N CONTENTS LEARNING OUTCOMES... 2 INTRODUCTION... 3 RISK DEFINITION OVERVIEW... 3 RISK MANAGEMENT ROLES AND RESPONSIBILITIES... 3 RISK MANAGEMENT APPROACH... 4 RISK IDENTIFICATION... 4 RISK QUALIFICATION

More information

CRISC. Isaca CRISC Certified in Risk and Information Systems Control Version: 1.0

CRISC. Isaca CRISC Certified in Risk and Information Systems Control Version: 1.0 Isaca CRISC Certified in Risk and Information Systems Control Version: 1.0 1 Topic 1, Volume A QUESTION: 1 Which of the following is the MOST important reason to maintain key risk indicators (KRIs)? A.

More information

Supersedes: 9/01/11 (Rev.5) Preparer: Owner: Approver: Team Member, North America Process Safety Center of Expertise

Supersedes: 9/01/11 (Rev.5) Preparer: Owner: Approver: Team Member, North America Process Safety Center of Expertise Procedure No.: BC032.019 Page: 1 of 12 Preparer: Owner: Approver: Team Member, North America Process Safety Center of Expertise Manager, North America Process Safety Center of Expertise Sr. Vice President,

More information

FOR OFFICIAL USE ONLY 1

FOR OFFICIAL USE ONLY 1 TO: Donald Trump, President CC: Mike Pence, Vice President; Chairman, National Space Council Scott Pace, Executive Secretary, National Space Council Mick Mulvaney, Director, Office of Management and Budget

More information

The Definitive Guide to ISO Risk Management for Medical Devices

The Definitive Guide to ISO Risk Management for Medical Devices The Definitive Guide to ISO 14971 Risk Management for Medical Devices Jon Speer Founder & VP of QA/RA greenlight.guru Table of Contents 1 What is Risk? 2 Introduction 8 Design Controls & Risk Management

More information

Quality Risk Management from Concept to Practical Strategies*

Quality Risk Management from Concept to Practical Strategies* Quality Risk Management from Concept to Practical Strategies* H. Gregg Claycamp, Ph.D. Director Div. of Compliance Risk Management and Surveillance and Associate Director, CDER Office of Compliance gregg.claycamp@fda.hhs.gov

More information

Risk and Risk Management. Risk and Risk Management. Martin Schedlbauer, Ph.D., CBAP, OCUP Version 1.1

Risk and Risk Management. Risk and Risk Management. Martin Schedlbauer, Ph.D., CBAP, OCUP Version 1.1 Risk and Risk Management Risk and Risk Management Martin Schedlbauer, Ph.D., CBAP, OCUP m.schedlbauer@neu.edu Version 1.1 Risk and Risk Management Copyright 2012 by Martin Schedlbauer ALL RIGHTS RESERVED.

More information

12 GeV CEBAF Upgrade. Risk Management Plan

12 GeV CEBAF Upgrade. Risk Management Plan 12 GeV CEBAF Upgrade Risk Management Plan May 29, 2007 12 GeV CEBAF Upgrade Risk Management Plan 1 Apr 05 ISSUE DATE PAGES AFFECTED DESCRIPTION Original CD-2 4/01/05 5/29/07 All All General update to maintain

More information

Security Risk Management

Security Risk Management Security Risk Management Related Chapters Chapter 53: Risk Management Also Chapter 32 Security Metrics: An Introduction and Literature Review Chapter 62 Assessments and Audits 2 Definition of Risk According

More information

Accident/Incident Investigation. The Following information is adapted from the National Safety Council Fact Sheet: Accident/Incident Investigation

Accident/Incident Investigation. The Following information is adapted from the National Safety Council Fact Sheet: Accident/Incident Investigation The Following information is adapted from the National Safety Council Fact Sheet: Accident/Incident Investigation Accident/Incident Investigation When do you conduct an investigation? All incidents, whether

More information

Basics of Quality Risk Management. CBE Pty Ltd

Basics of Quality Risk Management. CBE Pty Ltd Basics of Quality Risk Management CBE Pty Ltd This training program is copyright to CBE Pty Ltd and may not be modified, reproduced, sold, loaned, hired or traded in any form without its express written

More information

Federal Transit Administration United States Department of Transportation Washington, DC 20590

Federal Transit Administration United States Department of Transportation Washington, DC 20590 Discrete Distributions Probability 0.3 0.25 0.2 0.15 0.1 0.05 0 1 2 3 4 5 Time (mos) (days) or Costs ($000) Project Cost, Mitigated and Opportunities Realized PROBABILITY Project Cost, Unmitigated PROJECT

More information

RISK MANAGEMENT GUIDE FOR DOD ACQUISITION

RISK MANAGEMENT GUIDE FOR DOD ACQUISITION RISK MANAGEMENT GUIDE FOR DOD ACQUISITION Sixth Edition (Version 1.0) August, 2006 Department of Defense Table of Contents. Key Activity - Risk Analysis... 11.1. Purpose... 11.2. Risk Reporting Matrix...

More information

Project Theft Management,

Project Theft Management, Project Theft Management, by applying best practises of Project Risk Management Philip Rosslee, BEng. PrEng. MBA PMP PMO Projects South Africa PMO Projects Group www.pmo-projects.co.za philip.rosslee@pmo-projects.com

More information

RISKTOPICS DISCUSSION. Product Design January 2013

RISKTOPICS DISCUSSION. Product Design January 2013 RISKTOPICS Product Design January 2013 Design is an extremely important phase of a Product Liability Prevention Program because it is the only phase where defects can be corrected efficiently and effectively.

More information

Best Practices in Applying Medical Device Risk. Management Terminology

Best Practices in Applying Medical Device Risk. Management Terminology Best Practices in Applying Medical Device Risk Management Terminology Fubin Wu and Alan Kusinitz ANSI/AAMI/ISO 14971:2007 defines harm as physical injury or damage to the health of people, or damage to

More information

Best Practices in Applying Medical Device Risk Management Terminology

Best Practices in Applying Medical Device Risk Management Terminology Best Practices in Applying Medical Device Risk Management Terminology Fubin Wu and Alan Kusinitz About the Authors gessnet.com Fubin Wu is cofounder of GessNet risk management software in Sacramento, CA.

More information

RISK MANAGEMENT. Budgeting, d) Timing, e) Risk Categories,(RBS) f) 4. EEF. Definitions of risk probability and impact, g) 5. OPA

RISK MANAGEMENT. Budgeting, d) Timing, e) Risk Categories,(RBS) f) 4. EEF. Definitions of risk probability and impact, g) 5. OPA RISK MANAGEMENT 11.1 Plan Risk Management: The process of DEFINING HOW to conduct risk management activities for a project. In Plan Risk Management, the remaining FIVE risk management processes are PLANNED

More information

Risk Management: Assessing and Controlling Risk

Risk Management: Assessing and Controlling Risk Risk Management: Assessing and Controlling Risk Introduction Competitive Disadvantage To keep up with the competition, organizations must design and create a safe environment in which business processes

More information

16985 ESOH Risk Assessment and Acceptance The Basics

16985 ESOH Risk Assessment and Acceptance The Basics Headquarters U.S. Air Force 16985 ESOH Risk Assessment and Acceptance The Basics Mr. Sherman Forbes SAF/AQRE sherman.g.forbes.civ@mail.mil 703-254-2480 30 October 2014 Version 7 1 Risk Management A process

More information

PART 6 EVENT TREE ANALYSIS

PART 6 EVENT TREE ANALYSIS PART 6 EVENT TREE ANALYSIS Prof. Arshad Ahmad Email: arshad@utm.my Overview of Event Tree Analysis 2 Event Tree Analysis An event tree is a visual representation of all the events which can occur in a

More information

ENTERPRISE RISK MANAGEMENT (ERM) POLICY Republic Glass Holdings Corporation. Purpose. Goals

ENTERPRISE RISK MANAGEMENT (ERM) POLICY Republic Glass Holdings Corporation. Purpose. Goals Purpose This Enterprise Risk Management Policy (the ERM policy) provides the framework for managing risks across ( RGHC or the Company ). It contains the policies to guide employees, management and the

More information

Risk and safety Part 2: Risk analysis and safety measures

Risk and safety Part 2: Risk analysis and safety measures Risk and safety Part 2: Risk analysis and safety measures EPA1132 Technology development and impact assessment Frank Guldenmund, Safety Science & Security Group, Faculty TPM Overview 1. Risk analysis (con?nued)

More information

I mprovi ng Our Odds: Success through Continuous Risk Management

I mprovi ng Our Odds: Success through Continuous Risk Management I mprovi ng Our Odds: Success through Continuous Risk Management Phillip O. Greenhalgh, CSP; Project Engineer, ATK Launch Systems Inc., Brigham City, Utah, USA Keywords: Risk I dentification, Assessment

More information

A Framework for Risk Assessment in Egyptian Real Estate Projects using Fuzzy Approach

A Framework for Risk Assessment in Egyptian Real Estate Projects using Fuzzy Approach A Framework for Risk Assessment in Egyptian Real Estate Projects using Fuzzy Approach By Ahmed Magdi Ibrahim Aboshady A Thesis Submitted to the Faculty of Engineering at Cairo University In Partial Fulfillment

More information

How to Avoid the Common Problems When Using Risk Management

How to Avoid the Common Problems When Using Risk Management How to Avoid the Common Problems Joseph A. Lukas PMP, CSM, PE, CCP Joseph A. Lukas, PMP, PE, CCE, CSM 634 Alpha Drive Pittsburgh, PA 15238 (888) 762-3683 Fax (412) 963-8618 Presenter Joe Lukas PMP, PE,

More information

Enterprise Risk Management Program

Enterprise Risk Management Program Enterprise Risk Management Program David W Sundvall, Risk Manager 3/2/2016 Page 0 of 12 Table of Contents Introduction... 2 Approach... 2 Risk Appetite... 3 Roles and Responsibilities... 3 Process... 4

More information

Zurich Hazard Analysis (ZHA) Introducing ZHA

Zurich Hazard Analysis (ZHA) Introducing ZHA Introducing ZHA March 8, 2019 21st Annual Master Property Program Annual Loss Control Workshop Michael Fairfield, CSP Zurich North America - Risk Engineering Introducing ZHA Objectives After this introduction,

More information

An Introductory Presentation for ECU Staff

An Introductory Presentation for ECU Staff Risk Management at ECU An Introductory Presentation for ECU Staff Phillip Draber Manager, Risk and Assurance Outcomes By the end of this session you should: Be able to complete and document risk management

More information

Presented to: Eastern Idaho Chapter Project Management Institute. Presented by: Carl Lovell, PMP Contract and Technical Integration.

Presented to: Eastern Idaho Chapter Project Management Institute. Presented by: Carl Lovell, PMP Contract and Technical Integration. Project Risk Management Tutorial Presented to: Eastern Idaho Chapter Project Management Institute Presented by: Carl Lovell, PMP Contract and Technical Integration March 2009 Project Risk Definition An

More information

NYISO Capital Budgeting Process. Draft 01/13/03

NYISO Capital Budgeting Process. Draft 01/13/03 NYISO Capital Budgeting Process Draft 01/13/03 1 1.0 INTRODUCTION An effective, capital budgeting process is essential to ensure sound capital investment decisions. This report details a recommended approach

More information

Cost Risk and Uncertainty Analysis

Cost Risk and Uncertainty Analysis MORS Special Meeting 19-22 September 2011 Sheraton Premiere at Tysons Corner, Vienna, VA Mort Anvari Mort.Anvari@us.army.mil 1 The Need For: Without risk analysis, a cost estimate will usually be a point

More information

Functional Safety Demystified

Functional Safety Demystified Functional Safety Demystified BOB WEISS - FUNCTIONAL SAFETY CONSULTANT IICA TECHNICAL EVENING 9 TH JULY 07 Purpose Explains how to comply with AS IEC 65-004 using a case study TOPICS What is Functional

More information

RISK ASSESSMENT APPROACH AND ITS APPLICATION IN PHARMACEUTICAL INDUSTRY FOR PRODUCT QUALITY MANAGEMENT

RISK ASSESSMENT APPROACH AND ITS APPLICATION IN PHARMACEUTICAL INDUSTRY FOR PRODUCT QUALITY MANAGEMENT Journal of Medical Pharmaceutical And Allied Sciences REVIEW ARTICLE RISK ASSESSMENT APPROACH AND ITS APPLICATION IN PHARMACEUTICAL INDUSTRY FOR PRODUCT QUALITY MANAGEMENT Singh U. K.* Pahwa Shilpa, Sethi

More information

TONGA NATIONAL QUALIFICATIONS AND ACCREDITATION BOARD

TONGA NATIONAL QUALIFICATIONS AND ACCREDITATION BOARD TONGA NATIONAL QUALIFICATIONS AND ACCREDITATION BOARD RISK MANAGEMENT FRAMEWORK 2017 Overview Tonga National Qualifications and Accreditation Board (TNQAB) was established in 2004, after the Tonga National

More information

Tangible Assets Threats and Hazards: Risk Assessment and Management in the Port Domain

Tangible Assets Threats and Hazards: Risk Assessment and Management in the Port Domain Journal of Traffic and Transportation Engineering 5 (2017) 271-278 doi: 10.17265/2328-2142/2017.05.004 D DAVID PUBLISHING Tangible Assets Threats and Hazards: Risk Assessment and Management in the Port

More information

INTRODUCTION TO RISK MANAGEMENT FOR CONSTRUCTION PROJECTS. Prof. Reda Abdulaal Vice Presidency for Projects

INTRODUCTION TO RISK MANAGEMENT FOR CONSTRUCTION PROJECTS. Prof. Reda Abdulaal Vice Presidency for Projects INTRODUCTION TO RISK MANAGEMENT FOR CONSTRUCTION PROJECTS Prof. Reda Abdulaal Vice Presidency for Projects December 2009 Objectives & Outcomes of this Presentation December 2009 Introduction to Risk Managment

More information

Concepts in Risk-based Assessment Risk in Medical Imaging Ehsan Samei, PhD. Outline. Outline 8/3/2016

Concepts in Risk-based Assessment Risk in Medical Imaging Ehsan Samei, PhD. Outline. Outline 8/3/2016 Concepts in -based Assessment in Medical Imaging Ehsan Samei, PhD Outline Why of talk about risk? Science of risk and risk assessment in imaging Radiation risk in terms of patient welfare Outline Why of

More information

Study and Analysis of Hazardous Conditions and Near Misses by Fault Trees

Study and Analysis of Hazardous Conditions and Near Misses by Fault Trees Study and Analysis of Hazardous Conditions and Near Misses by Fault Trees Mehmet Savsar Kuwait University P.O. Box 5969 Safat 13060 Kuwait msavsar@gmail.com Mohamed H. Al-Ali P. O. Box 4167 Sharjah, UAE

More information

PROGRAMMATIC RISK MANAGEMENT PLAN

PROGRAMMATIC RISK MANAGEMENT PLAN Issue: 1 Rev.: 2 Date: 15 Dec 99 PROGRAMMATIC RISK MANAGEMENT PLAN 11 10 12 1 2 9 3 8 7 6 5 4 Directorate of Manned Spaceflight and Microgravity Issue:1 Rev.: 2 Programmatic Risk Management Plan Date:

More information

AN INTRODUCTION TO RISK CONSIDERATION

AN INTRODUCTION TO RISK CONSIDERATION AN INTRODUCTION TO RISK CONSIDERATION Introduction This cookbook aims at recalling basic concepts and providing simple tools and possibilities of applying the "considering of risks and opportunities" in

More information

Project Management Professional (PMP) Exam Prep Course 11 - Project Risk Management

Project Management Professional (PMP) Exam Prep Course 11 - Project Risk Management Project Management Professional (PMP) Exam Prep Course 11 - Project Slide 1 Project Looking Glass Development, LLC (303) 663-5402 / (888) 338-7447 4610 S. Ulster St. #150 Denver, CO 80237 information@lookingglassdev.com

More information

GOV : Enterprise Risk Management Policy

GOV : Enterprise Risk Management Policy Name: Responsibility: Complements: Enterprise Risk Management Framework Coordinator, Enterprise Risk Management GOV-080-005: Enterprise Risk Management Policy Draft Date: November 2006; January 2012 Revised

More information

ADVANCED QUANTITATIVE SCHEDULE RISK ANALYSIS

ADVANCED QUANTITATIVE SCHEDULE RISK ANALYSIS ADVANCED QUANTITATIVE SCHEDULE RISK ANALYSIS DAVID T. HULETT, PH.D. 1 HULETT & ASSOCIATES, LLC 1. INTRODUCTION Quantitative schedule risk analysis is becoming acknowledged by many project-oriented organizations

More information

Outline. Project Management. Introduction. What is a Project?

Outline. Project Management. Introduction. What is a Project? Outline Project Management Jeffrey Pinto, Ph.D. Penn State Erie What is Project Management? Scope Management Risk Management Planning and Scheduling Project Evaluation and Control Project Termination Introduction

More information

Introduction to ISO Key Points and Benefits

Introduction to ISO Key Points and Benefits Introduction to ISO 31000 Key Points and Benefits By Gerard Joyce LinkResQ Managing Risk We all manage risk consciously or unconsciously - but rarely systematically Managing risk means forward thinking

More information

Project Risk Management. Prof. Dr. Daning Hu Department of Informatics University of Zurich

Project Risk Management. Prof. Dr. Daning Hu Department of Informatics University of Zurich Project Risk Management Prof. Dr. Daning Hu Department of Informatics University of Zurich Learning Objectives Understand what risk is and the importance of good project risk management Discuss the elements

More information

Dilemmas in risk assessment

Dilemmas in risk assessment Dilemmas in risk assessment IRS, Stockholm www.irisk.se Perspectives: Accidents & Safety Industry Occupational safety Medical services Transport Energy etc. Themes Terminology and concepts Risk assessment

More information

POLYTECHNIC OF NAMIBIA

POLYTECHNIC OF NAMIBIA POLYTECHNIC OF NAMIBIA SCHOOL OF MANAGEMENT SCIENCES DEPARTMENT OF MANAGEMENT PROJECT MANAGEMENT BACHELOR OF BUSINESS ADMINISTRATION 07BBMA SUBJECT CODE: PRM422S DATE: DURATION: MARKS: EXAMINERS: MODERATOR:

More information

Project Management for the Professional Professional Part 3 - Risk Analysis. Michael Bevis, JD CPPO, CPSM, PMP

Project Management for the Professional Professional Part 3 - Risk Analysis. Michael Bevis, JD CPPO, CPSM, PMP Project Management for the Professional Professional Part 3 - Risk Analysis Michael Bevis, JD CPPO, CPSM, PMP What is a Risk? A risk is an uncertain event or condition that, if it occurs, has a positive

More information

Presented by Mr. Rajesh Kandhai

Presented by Mr. Rajesh Kandhai Presented by Mr. Rajesh Kandhai OHSE Manager Senior Assessor STOW TT SBCS ALJGSB bptt EMA Inspector Trinmar EMA / UN 2 Introduction and Ground Rules Safety Leadership and Safety Culture Types of Risk and

More information

1. Define risk. Which are the various types of risk?

1. Define risk. Which are the various types of risk? 1. Define risk. Which are the various types of risk? Risk, is an integral part of the economic scenario, and can be termed as a potential event that can have opportunities that benefit or a hazard to an

More information

7.0 RISK MANAGEMENT. Table of Contents

7.0 RISK MANAGEMENT. Table of Contents Section 7 Risk Management 7.0 RISK MANAGEMENT Table of Contents 7.0 RISK MANAGEMENT... 1 7.1 Risk Management Process... 2 7.2 Audit and Risk Committee... 2 7.3 Risk Management Charter... 3 7.4 Council

More information

Managing risk appetite for operational and non-financial risks

Managing risk appetite for operational and non-financial risks Managing risk appetite for operational and non-financial risks John Thirlwell IIA, Bodø, 27 May 2013 Agenda What do we mean by operational and nonfinancial risks? What do we mean by risk appetite? A framework

More information

Classification Based on Performance Criteria Determined from Risk Assessment Methodology

Classification Based on Performance Criteria Determined from Risk Assessment Methodology OFFSHORE SERVICE SPECIFICATION DNV-OSS-121 Classification Based on Performance Criteria Determined from Risk Assessment Methodology OCTOBER 2008 This document has been amended since the main revision (October

More information