Abstract

Carl and Fred discussing the subject of risk management and how reliability relates to it.

Key Points

Join Carl and Fred as they discuss the increased focus on risk management and how reliability professionals can support the trend.

Topics include:

• The effect of globalization on risk strategies
• ISO standards on risk management
• Definitions of risk in standards
• Severity and likelihood of harm
• Enterprise risk management
• Reliability versus risk
• Business risk
• Use of Fault Tree Analysis in defining risk
• Limitation of FMEA in defining risk
• Limitation of ISO standards
• Understanding core principles

Enjoy an episode of Speaking of Reliability. Where you can join friends as they discuss reliability topics. Join us as we discuss topics ranging from design for reliability techniques, to field data analysis approaches.

Show Notes

ISO standards regarding risk management

• ISO 31000:2009 – Principles and Guidelines on Implementation
• ISO/IEC 31010:2009 – Risk Management – Risk Assessment Techniques
• ISO Guide 73:2009 – Risk Management – Vocabulary
• ISO 14971 – Medical devices, Application of risk management to medical devices