President Trump promises a more business-friendly government that should stimulate economic growth. Regardless of the actual economic growth in our future, here are three methods that will help your business increase profits if you depend on successful completion of projects to make money.
These are relatively simple concepts, but they require in-depth knowledge, consistent effort and discipline to get full benefit. Continue reading
In the risk-neutral world, all business and government continuity planning would be risk-balanced. However, in reality, risks, threats, hazards and their consequences change depending on an organizations exposure, sensitivities to impact and other factors. For instance, a natural disaster, can occur without much warning and can have direct and indirect impact on an organization. Complicating the Business Continuity Planners life is a simple fact, events have unforeseen consequences that can rarely be planned for. Continue reading
Excuse me, but this is a bit like 3 high street bankers sitting around discussing the plight of the homeless. Very few of these self-appointed experts have ever started a business let alone been directly responsible for innovation in the marketplace.
After being in the computer software business for over 3 decades I have been directly involved in the most innovative period mankind has seen. From the introduction of “mini” computers to the “cloud” to IoT (the Internet of Things), technical change has been a staple of the industry. But from text files to relational databases to big data, the evolution of information as a tool has been the backbone of innovation in the aptly named “information revolution”. Continue reading
I recently got a question from one of my clients regarding risks associated with non-compliance in Emergency Department concerning two patient identifiers. The risk identified by my client is not uncommon among many healthcare organizations and falls under operational and compliance risk management. In order to comply with the required organizational practices (ROPs), we first need to have a closer look at it. Continue reading
Risk management is ultimately about creating a culture that would facilitate risk discussion when performing business activities or making any strategic, investment or project decision.
In this free book, Alex Sidorenko and Elena Demidenko talk about practical steps risk managers can take to integrate risk management into decision making and core business processes. Continue reading
We live in a volatile world full of uncertainty. It’s all about targeted flexibility, the art of being prepared, rather than preparing for specific events. Being able to respond rather than being able to forecast, facilitates the ability to respond to the consequences of an event. Continue reading
Gathering Field Failure Data
A common and rather poor technique to gather field data is to count the number of returns by week or month. This can provide a graph showing the number of returns over time. However, it hides useful information you need to understand your field failures.
Let’s take a look at a way to gather the same field failure data and retain the critical information necessary for time-to-failure analysis. Continue reading
How often do we hear or read that some organization or other purports to aim to exceed their Clients’ expectations? Are such statements mere puffery and sales pitch by some top-line grabbing salesman or are they genuine goals in line with the mantra of continuous improvement? And if we exceed somebody’s expectations are they happy about it? Continue reading
In the US, there are a number of Enterprise Risk Management (ERM) developments:
- US Feds are requiring ERM in all federal departments.
- Feds are pushing ERM to states that have federal funding.
- Fed are thinking of putting ERM into enforcement and contracts.
A recent quality management system benchmark survey showed manual processes are still predominant over automated systems. The results of the survey were compiled from over 100,000 professionals worldwide and the majority of the participants work in quality or regulatory positions across pharmaceutical, medical device and biotech industries. Continue reading
Internal control audits are usually conducted as part of an overall risk assessment. First risks are identified and then internal controls are identified to mitigate the risks. Internal control assessments usually evaluate these 5 interrelated elements of effectiveness: Continue reading
Since W. Edwards Deming’s pioneering work in the 1950s, we have witnessed remarkable progress in the disciplines of both quality and management. Through the years, the best practices of the day have been given fancy names such as total quality management (TQM), Six Sigma and, most recently, Lean everything—just to name a few. Continue reading