Risk identification tools and techniques |Download Format
Risk identification tools and techniques:
Hello Readers! Today we will discuss Risk identification tools and techniques & identification of several types of risks. As you know most of the business system standards are upgraded to risk base. And there is a special clause mentioned in the new standard as risk and opportunity. So here we will talk about tools and techniques to identify the risk related to the standard requirements. Before going through the details process download the risk identification template/formats from the below links.
DOWNLOAD-SWOT Analysis Format for risk identification.
DOWNLOAD-Risk Identification Format.
Risk identification tools and techniques:
Although we have posted separate articles on SWOT analysis and Risk identification Tools, even also we will let you know about the steps and basic idea of risk identification. Every standard has some input while identification of Risk and Opportunity. A simple example is prescribed below for your better understanding.
SWOT Analysis Technique:
SWOT stands for Strengths, weaknesses, opportunities, and threats. Before doing analysis you have to identify the past and current issues.
Steps:
- Identify the past and current issues.
- Consider the Business standard’s input to identify the probability of uncertainty.
Example: let you are going to identify the risk and opportunity related to marketing/sales operations and use the SWOT analysis to do so.
Past and current issue: Field failure.
Probability of uncertainty: Low sales volume.
| Strengths | Weaknesses | Opportunities | Threats | |
| Field failure | Advanced research and development centre, On-job training and knowledge enhancement to the inspector, advanced service centre. | 1. Manufacturing defect, 2. Design problem. | 1. Provision for error proofing to prevent the manufacturing process defect. 2. Provision in further analysis of design-related problems. | Profit loss, customer dissatisfaction. |
| Low sales volume | …. | Competitive market, inconsistent market demand, | We can start selling products in overseas, if possible some offer on the product. | Profit loss, low sales turnover. |
If you would like to know more about SWOT Analysis in several operations and other tools to identify the risks and opportunities then read the below post;
We have discussed here only on SWOT Analysis methodology to identify the Risk but there are many more methods, tools, and ways to identify the Risk.
If you would like to identify the OH&S-related risk then you can use the HIRA Study and HAZOP study also.
similarly, for EMS-related Risk, you can do an Aspect and impact study.
For process and design-related risk identification, you can do the PFMEA and DFMEA study.
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