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.
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.