Risk vs Reliability
Abstract
Carl and Fred discuss whether the reliability community should focus on the body of knowledge associated with risk or reliability.
Key Points
Join Carl and Fred as they discuss risk versus reliability, and how they interact in bringing about safe and economical products.
Topics include:
- Risk as uncertainty
- Is everything focused on risk?
- Risk vs reliability = both
- Being able to characterize and understand risk is essential to making good decisions
- We live in a world of risk
- Reliability as performance, separate from reliability as safety
- Enterprise risk vs product or technical risk
- Our ability to fit reliability concerns into larger context of business concerns is important
- Reliability is a subset of enterprise risk
- Enterprise risk takes into account: economics, regulatory, geo-political, technical, and many other aspects
- Risk and innovation
- How to mitigate risk
- Scope of reliability
- Be aware of all forms of risk, influence what is within your scope
- Reliability works within transactional and design level
- Reliability is part of risk management process
Enjoy an episode of Speaking of Reliability. Where you can join friends as they discuss reliability topics. Join us as we discuss topics ranging from design for reliability techniques to field data analysis approaches.
SOR 941 Risk vs ReliabilityCarl S. Carlson
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Show Notes
Hello Fred Schenkelberg,
What does this conversation have to do with risk versus reliability?
They overlap depending on the focus of the decisions involved. If working on product or system reliability, then the uncertainty (risk) of future performance is where reliability and risk overlap a lot. If working on a decision to launch a new product or in a new market, then the decision deals with uncertainties such as customer acceptance, shipping variations, etc., meaning the reliability and risk overlap is a bit less.