Category Archives: Tips&Tools@Risk™

#144 – EFFECTIVE CONCURRENT ENGINEERING REDUCES PRODUCIBILITY RISK – JOHN AYERS

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AAAMost companies have policies and procedures for concurrent engineering but many are ineffective for various reasons resulting in poor implementation of improved producibilty in their products. I have made this observation based on working for a variety of companies in different industries. Three examples of different approaches I encountered are presented below for your consideration. Two of the examples were used by defense companies, one of which I consider excellent and the other poor. One method was used by a commercial company is one I consider to be very good. Continue reading →

#144 – BEHIND COMPLIANCE MANAGEMENT FAILURES AT MITSUBISHI, VW, AND TARGET – GREG CARROLL

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GregCarroll2016 has seen a virtual tsunami of compliance failures involving some of our largest companies. From Mitsubishi to VW, from ANZ to Target, almost weekly there have been media reports about some company employees having run amok – unbeknownst to their executives and boards. People are asking: “What happened to the compliance management systems that are supposed to monitor and prevent such abuses?” Executives and boards are naturally starting to question the entire compliance management function. Continue reading →

#144 – ENTERPRISE RISK MANAGEMENT AND STRESS – JIM KLINE PH.D.

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aIMG_4231Introduction

Enterprise Risk Management is the process of determining what an organization’s operational risks are and the appetite that upper level management has for those risks. The idea is that by identifying the risks ahead of time, the risks can be avoided or mitigated.

Like all such procedures, the goal is worthy. However, there are weaknesses. One of the little recognized problems is how people react under stress. Continue reading →

#143 – CORPORATE SOCIAL RESPONSIBILITY BALANCING THE RISKS AND REWARDS – GEARY SIKICH AND JOOP REMME

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Untitled1-150x150Summary

In this article, we intend to offer a realistic perspective on corporate social responsibility. First we offer our perspective on the related concepts of corporate social responsibility and sustainability, clarifying why anyone in the business community should spend some energy on them. Then we relate corporate social responsibility to corporate risk.

UntitledFocusing corporate risk on the risk in future developments, we then see the background for the challenges within corporate social responsibility. From the complexities around those challenges, we then go to developing business, which then brings us to our conclusion. The conclusion has to make sense in managerial terms and that is why we give the reader a twelve step program to effectuate improvements in terms of corporate social responsibility. Continue reading →

#143 – DO YOU KNOW THE RISKS IN YOUR MEASUREMENT SYSTEM? – AFAQ AHMED

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aaaOrganizations have processes and every process has a certain amount of risk associated with it due to variations. By managing process variations we can minimize risks to achieve desirable results. Every process has input variables (X) that delivers outputs (Y). Changes in (Y) is dependent on changes in (X) and can be expressed as:

Y=f(X) Continue reading →