Seth Goldberg Seth Goldberg

FMEA Part 4 - Share your findings with stakeholders

The FMEA process allows you to identify and mitigate risks. Communicating the FMEA results and driving real action to reduce risk is critical. This article discusses the communication process to ensure your risk mitigation plans are accepted by key stakeholders.

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Seth Goldberg Seth Goldberg

FMEA Part 3 - How to mitigate project/process risks and lower your FMEA RPN Score

In this article we will discuss how to mitigate project/process risks and lower your FMEA RPN Score. Properly done, it can be an invaluable tool to help mitigate risks early on in a project or help fix an existing process.

- RPN scoring allows you to quantify the risk of a failure mode. If you can pinpoint your biggest risks early on, you can prioritize their mitigation and mitigate them before process go-live. This will benefit your program later on down the line because it ensures that all efforts are focused on the most important issues, rather than being spread across all possible issues.

- RPN scoring is also a way to measure how effective your mitigation strategies have been at reducing risk during development. You will be able to tell if a particular strategy has helped with reducing risk, or if it has not been effective at all (or if there was no need for implementing this type of strategy in the first place).

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SIPOC, FMEA, Fundamentals, Process Improvement Seth Goldberg SIPOC, FMEA, Fundamentals, Process Improvement Seth Goldberg

The simple tool to understand your financial processes. Create a SIPOC!

The SIPOC is an easy tool to visualize or document the flows of a process. It allows you to identify the high risks and key performance indicators for any process, including where you are exposed to risk and where there are opportunities for improvement. The SIPOC methodology is widely used in many diverse fields from Finance, product design, to pharmaceutical R&D, business analysis, Six Sigma quality and IT.

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