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Risk Management
What is Risk Management?
Risk-free outcomes can be expected only if the risks are assessed and mitigated systematically in a process. A sequence of PFD-PFMEA-Control Plan is needed for this objective. A Process Flow Diagram (PFD) captures the flow of material and/or information in the process from the first to the last step. PFMEA is a risk assessment tool that will help identify what can potentially go wrong. Control Plan is a series of steps to be taken to prevent the risks in the process. This program will equip the participants to create PFD, PFMEA and Control Plan for their processes.
Background
PFMEA was one of the first systematic and structured techniques used for risk assessment. It started in 1950s, with the reliability engineers assessing problems that may arise in the functioning of military systems. It is a proactive tool that helps assess the failures even before they occur. That makes PFMEA, arguably, the most powerful Excellence tool but also the one that is most abused. Involvement of multiple teams and complex processes can make the PFMEA exercise further daunting. Risk Assessment is done thoroughly in advanced industries (like Automotive and Aerospace) using a PFMEA. A PFMEA (Process Failure Mode and Effects Analysis) is arguably the most powerful Excellence tool but also the one that is most abused. It requires Expert facilitation to carry out initial FMEA’s in any organization. We have conducted this course for Boeing, USA in the past.
Objective
To help participants understand the pre-requisites, Do’s and Don’ts of PFMEA. Participants will appreciate the challenges to doing PFMEA including involving cross functional teams. To build expertise in PFMEA so that the participants can create excellent artifacts that help not only in Risk mitigation but also in Knowledge Management.
Why Benchmark Six Sigma is suited to deliver this program?
Benchmark Six Sigma is number 1 for Risk Analysis in many ways.
- In 2001, Benchmark initiated the first Six Sigma Green Belt program in India. PFMEA was a part of that program. Risk Assessment has been evolving and is reviewed and revised every year
- We train the largest number of business excellence professionals in Public and Corporate programs (1500+ every year)
- The large network of business excellence professionals has now crossed 40000. You can find a Benchmark Six Sigma certified professional in every large company in India
- We moderate the largest Lean Six Sigma learning community (among top three in the world)
Who Can Benefit
- Professionals who need to work towards perfection of processes by risk mitigation
- Professionals in Risk Management
- Any progressive management professional who wants to bring change for the better
- Quality Professionals
- Six Sigma professionals who wish to gain mastery in Risk Analysis
Salient Features
- Facilitated by Multi-Industry Expert
- 16 Hrs of Instructor-Led Classroom Training
- 16 PDUs for PMI credential
- Globally Recognized Benchmark Six Sigma Certificate
- Membership of largest Business Improvement Community
Training Package
- Course Material Kit for Risk Management
- Data, templates and case study for Analysis
- 2 Days of Instructor Led Classroom Training
- Risk Management Examination
- Certificate with lifetime validity
Content Outline
The outline of this workshop of 2 days on Risk Management is mentioned below.
- Process Flow Diagram (PFD) – Introduction
- PFD – Do’s and Don’ts
- Sample PFD’s – Good and Bad
- Advanced PFD elements
- PFMEA – Basics
- Severity, Occurrence and Detection (SOD) Rankings
- Customizing SOD for specific usage
- Common mistakes in PFMEA
- Sample activity on Building PFMEA
- Case Study to find errors
- Building Control Plan from PFMEA
The contents of this program can be customized based on a shadow session or pre-study done within the company.
Request Information
To learn more about Risk Management, its uniqueness and advantages as applicable to your specific situation, fill out the fields below. You can also call +91 9811370932 (India) or +1 513 657 9333 (USA) to speak to one of our Program Advisers.
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Risk Management with unmatched advantages
What everyone offers
Accreditation
Some / Industry Acceptance
Some Project Practice
Some Training Experience
Benchmark offers More
We started our programs in 2001 and most accreditations started later. We provide Exemplar Global accredited globally valid certificate.
We guide participants through cases from different industry sectors which come from real experience in those organizations.
What no one else offers
The facilitator of our PFMEA program is an International Expert on Business Excellence
Training methodology that has matured with modifications since 2001
Understanding of Lean Six Sigma and Excellence approaches that interface with Risk Management
Training is the beginning. We engage members with 2 questions every week to facilitate ongoing learning.
The facilitator has significant training experience in manufacturing as well as services.
Use of multi-sensory approaches is our forte.
Hands on exercises that are custom designed for the company
Our Forum is one of the top three in the world and has 53000+ members.
The Facilitator has conducted hundreds of training programs
Excellent rating by our participants
End to end competency in Product and Process Designs
Free scenarios for all our participants.
Participants' Feedback
Efficient.
The course was very efficient with very use of statistical tools and relevant examples.
Well structured.
The trainer’s delivery approach was excellent and the course content was well structured.
Effective training!
It’s a very effective training program even for those who uses the tools without a basic knowledge on the subject.
Knowledge growth.
Resources from this workshop can influence my knowledge growth.