You have impressive company when you say that management is
about managing risk. Peter Drucker said that the function of management is to
convert risk to profit (or words to that effect).
Have you tried Prof. Porras's Stream Analysis to do what you
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----- Original Message -----
Sent: Wednesday, February 26, 2003 6:50
Subject: [rootcauseconference] Re: FMEA
in Root Cause Analysis
BobN and BobL,
Permit me to enter to enter into this
discussion, with a slightly
different perspective, one of risk
The way I see it is is best described by a series of
- prepare an inventory of failures that have harmed or have had
potential to harm. This will include the sporadic big bangs as
as the chronic but costly smaller ones.
- calculate or estimate
their frequency and severity in $$$, injury,
environmental or reputation
metrics. Lump all the chronic identical
items as one.
these items on a rectangular risk matrix grid, with say,
left hand top
corner representing low frequency, low severity and
right hand bottom
corner representing high frequency, high severity.
- this balances out the
argument about chronic events being more or
less important than the big
bangs. Select items in the right hand
bottom corner to work on, be
it with RCA, RCM, FMECA or whatever
(high cost) analysis option is
BTW I agree with BobN entirely that solving the chronic
invariably just about $$$ element and often does not address
attitudes and behaviours. It is hard to find chronic events that
register high on the Public Relations front, but big bangs capture
public eye! Secondly, when we do an RCA on a big bang, provided
have been diligent, we will find a fair number of human and
causes. This gives us a great opportunity to apply the
throughout the Company, multiplying the $$$ benefits
Plus it help change cultures, attitudes and
that all management is about managing risk, be it safety,
environment, or operating costs. And all risks are
so we need a way to manage risks of perception as
well - (There are many
incidents that have cost more in lives than,
say, Columbia, but we
perceive it to be of much higher value, hence
our group's extra interest;
how do we rank the PR, national pride
issues involved?) Hence my
suggestion to use a risk matrix to
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