Reliability and Risk Management
Abstract
Carl and Fred discussing the relationship of reliability and risk management, including areas of overlap and linkages.
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SOR 652 Reliability and Risk Management
178-Risk with David Albrice
Risk with David Albrice
While doing asset management, the organizations are always keen to balance the outcomes between performance, cost, and risk. Risk is a huge part of asset management programs and can be defined as the uncertainty that an organizations faces to achieve its objectives. There are lot of things happening in an organization, so there are a lot of uncertainties all around. With innovation and growth opportunities, comes the risk as well. The risk is mostly considered in terms of negative experiences but it can lead to positive experiences too. Whenever you take a risk, there’s always a chance that things could go either way.
In this episode, we covered:
- Why is risk a huge part of asset management programs?
- Why is it important to manage risk with optimized trade-offs?
- What are the risk types and how can we manage them effectively?
- And much more!
SOR 451 Risk Identification Tools and Use
Risk-Identification Tools and Their Use
Abstract
Carl and Fred discussing risk-identification tools, one of the four categories of reliability tools.
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SOR 442 How to Quantify Reliability Risk
How to Quantify Reliability Risk
Abstract
Adam and Fred discussing how confidence can be measured in a program and where is the most value for testing investment.
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SOR 431 What is Acceptable Risk
What is Acceptable Risk
Abstract
Carl and Fred discussing the broad subject of risk, focusing on the concept of acceptable risk.
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SOR 344 Reliability Risk and Design Freeze
Reliability Risk and Design Freeze
Abstract
Adam and Fred discussing the effectiveness of the “design Freeze” methodology in the product development process effectiveness.
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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…]