Reliability Engineering and Risk Analysis

podcast episode with speaker Fred Schenkelberg

Risk is uncertainty. Will this work? How will this item fail? Is it safe? Risk is not limited to product failure, including brand topics such as market acceptance, regulatory approval, supply chain stability, international conflicts, and more. Reliability engineering tends to focus on product failure to perform as expected, and we must fit into the large context of risks facing any product or system.

Let’s discuss risk, risk management, and our role in identifying and mitigating risks. Plus, let’s explore how reliability engineering tools fit into the larger risk management processes many organizations have in place.

There are a few ways to deal with risk, from ignoring potential risks until forced into action to anticipating risks and preparing responses, just in case. We will do a bit of both, as we will only anticipate some potential risks, there are still surprises out there. Yet, the better we are at identifying risks and understanding our roles and responsibilities, the more we can eliminate or mitigate risks well.

This Accendo Reliability webinar originally broadcast on 10 November 2020.