Last week, I spoke about how to set up a Risk Matrix and the considerations on how to determine risk scales. I mentioned how Risk methods provide the objectivity needed for many organizations, but a team is need to ultimately make the decision.
In this day and age, Risk is the biggest buzzword in the compliance industry. We've talked about it, you can't go anywhere without hearing about it, and everyone's got a Risk-Based solution. We can no longer rely purely on "gut instinct" to execute on events, whether Quality, Financial, Social or similar areas. The world moves too fast, and one misstep can make or break you as a business. Risk provides the objective metric to help the decision-making process. But, you need to know how to use risk.
I recently was speaking to a group of folks on the different ways to mitigate risk. While this may not seem like "exciting" dialogue, it actually provoked an interesting thought - while many organizations interpret Risk factors differently, it seems that from one industry to the next, they tend to use a singular method. One group uses FMEA exclusively, another uses HFACS or some human error risk, another uses HACCP, and so forth.
I love my smartphone. I'm not ashamed - I marvel at the concept of having information at my fingertips. And the smartphone companies know I love them, which is why they proceed to launch a new smartphone every six months. As soon as I get the latest technology, the "next big thing" is only a few months away. Companies like Apple seem to introduce a new product version just as soon as the seasons change. This had me wondering about their product lifecycle, and how post-market information makes its way around the company to influence the next release. This is Change Management.
