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by Fred Schenkelberg 2 Comments

Fundamentals of Risk

Fundamentals of Risk

An Introduction, Basic Definitions, and Overview of a Risk Management Framework

Risk is borne from uncertainty. The reliability performance of your product line and of individual products is fraught with uncertainty. Identifying and understanding the types of risks involved helps your team mitigate reliability performance risk.

An obvious risk and common question when developing a new product involves the field failure rate. If the failure rate is too high, it may dissuade customers from buying the product. If too low, we set assign funds unnecessarily to cover unrealized warranty expenses. [Read more…]

Filed Under: Accendo Reliability Webinar Series Tagged with: Framework, risk, risk management

by James Kovacevic Leave a Comment

35 – Importance of People in an Asset Management Model with Scott Kelley

35 – Importance of People in an Asset Management Model with Scott Kelley

Importance of People in an Asset Management Model with Scott Kelley

In this episode, the guest Scott Kelley explains the role of the people component in the asset management model. Asset management is the most effective way of making the best use of investment and improve the production level of any organization. There are total six components in the model; people, plant, processes, policies and procedures, performance, and proactive maintenance. The people factor is of top priority among all of these factors. Why is the people component most important? Well, considering even if you have excelled in every other cell, you are going to need people to manage all of these and above all well trained and skillful people to make this work. Now, this cell in the model contains things such as organizational development, organizational structure, continuous improvement, change management, and operational excellence.
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Filed Under: Rooted in Reliability: The Plant Performance Podcast Tagged with: Asset, Asset Management, Framework, Model, People, RIR, Rooted In Reliability, Scott Kelley

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