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.
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.
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
- 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
- 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
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.
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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