There is a continuing discussion of the difference between risk management and quality management. Some believe they are the same thing while others say there is no area of overlap. The article is not intended to be an exercise in wordplay, it is my personal view of how ISO 9001 covers aspects of managing quality risk and, at the same time, is not a general risk management standard. Continue reading
Enterprise Risk Management (ERM) is a relatively new concept. It is a top down approach to business system management and execution. It is designed to identify potential events and risks that can impact the organization. There are 3 levels to ERM. These are: Enterprise Level; Program/Project Level; and Product level. This paper explains the differences between the program and project level. Continue reading
General Electric (GE) for many years was the go-to company for competitiveness, efficiency, and innovation. General Electric’s tagline was ‘Imagination at work.’
GE more recently has had a number of troubles. GE’s profitability tanked. GE is selling many of its assets and divisions. GE was also taken off the Dow after 110 years. Continue reading
In June 2018, the International Organization for Standards (ISO) is expected to release a revision of ISO 19011, its Guide to Auditing Management Systems. The final draft is out. Based on it, a sea change is coming for all ISO certifications. However, the impact is not fully understood. This piece discusses some of the implications. Continue reading
This risk story includes risk at the enterprise level, the program/project level, and the product level. From the enterprise level risk, it was a little naïve on my company’s part to think they could go from zero not having manufactured any sonobuoys previously) to full up production the first time around without investing the time and finances to go up the learning curve prior to making the bid. From the program/product level risk viewpoint, the baseline plan did not include sufficient component and subassembly trial builds and testing before finalizing the concept, preliminary design and final design. Continue reading