Enhanced Risk Management Plan in an Overall Business Management System

An enhanced risk management plan occurs when risk is integrated in an overall Integrated Enterprise Excellence (IEE) business management system. The IEE system is a 9-step process, where a risk management plan is created as part of step 4 noted in the following figure.

IEE risk management plan is in step 4

According to Wikipedia: A risk management plan is a document that a project manager prepares to foresee risks, estimate impacts, and define responses to issues. It also contains a risk assessment matrix. A risk is “an uncertain event or condition that, if it occurs, has a positive or negative effect on a project’s objectives.”

Organizations need a systematic approach for risk containment when quality, delivery, and design product and service issues occur. Such a system should also help them to recover quickly from errant decisions made by executives, operations personnel, and the quality department.

The published Internet linked-to article below describes how well-chosen metrics can help mitigate these risks if the measurements contain good tracking and reporting methods that lead to the most appropriate action.

 

Contact Us to set up a time to discuss with Forrest Breyfogle how your organization might gain much from an IEE risk management plan approach.

 

[easy_media_download url=”https://www.smartersolutions.com/orl/P_150_RiskManagement_QualityDigest_12202011.pdf” target=”_blank” color=”orange_dark” text=”Download” class=”btnORL”]

Scroll to Top