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Toward the disappearance of corporate information silos effects

Disappearance of corporate information silos effects In 2014 we stressed in various posts how risk management has to encompass asset management, a concept embraced by ISO 31000 and ISO 55000. It seems that ISO is also finally recognizing that QMS (Quality Management Systems) cannot be dealt as information silos, independently from Risk Management and therefore puts clear emphasis on Risk-based management: consider issues, determine the risks and opportunities, define actions to address the risks, etc. It appears that the ISO 9001…

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Fault tree analysis, FTA

Fault tree analysis, FTA In our day to day practice we frequently see risk assessments methodologies being stretched to «fit the clients’ case», or, in other words, tools being selected to deliver results they were not designed for. This is a brief summary for the Fault tree analysis (FTA) one of the most common methodologies to evaluate a system against single or multiple initiating faults. FTA is a top down, deductive failure analysis method in which an undesired state of a system is analyzed…

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Failure Modes and Effects Analysis, FMEA risk methodology

Failure Modes and Effects Analysis, FMEA risk methodology In our day to day practice we frequently see risk assessments methodologies being stretched to «fit the clients’ case», or, in other words, tools being selected to deliver results they were not designed for. This is a brief summary for the Failure Modes and Effects Analysis (FMEA) one of the most common risk assessments methodologies. In the coming weeks we will review several of these methodologies and will end the review with a comparison. FMEA was one…

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HAZOP – hazard methodology

HAZOP – hazard methodology In our day to day practice we frequently see risk/hazard methodologies being stretched to «fit the clients’ case», or, in other words, tools being selected to deliver results they were not designed for. This is a brief summary for HAZOP, a common process hazard identification methodology. In the coming weeks we will review several of these methodologies and will end the review with a comparison.  HAZOP is a structured and systematic examination of a planned or existing…

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