DARE!: Behind The Scenes Of The Best Business Transformation Project In The World. by unknow

Author:unknow
Language: eng
Format: mobi
Publisher: Rockstar CX Publishing
Published: 2020-01-12T03:00:00+00:00

6. Risk Management: Preparing for the Worst when Everything Is Going Great

Prevention has often been associated with wisdom. Preventing bad things from happening got us to this point in history, when almost anything we envision is possible. Even so, humanity wasn’t always blessed with the wisest rulers and leaders. Wisdom implies judgement, and judgement is a process.

We can look at prevention as a result of a process, can’t we? How should we begin such a process? It’s fair to presume that we only want to prevent undesired events from happening. Thus, the first logical step is to identify those events that could happen in the future and could negatively impact us and our objectives. Whether we call them undesired events, threats, liabilities, or potential hazards, it’s all about the concept of risk.

Is it enough to just expect for the best in the future? Or would it be more useful to know the prioritized risks, based on a real evaluation? If you were a real gambler, you’d probably bet on the second option. This entire process is about identifying, analyzing and mitigating risks, and is generally known as Risk Management. This chapter describes the challenges of implementing Failure Mode and Effects Analysis (FMEA) – one of the best Risk Management methodologies in the world – at Apa Nova.

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