Propose Aspects to evaluate risk impact?

qualprod

Trusted Information Resource
#1
Hello everybody

I want to have your opinion when evaluating the impact of the risk.

Doing it in with no precision, we may apply
PxI, where P is a value, which normally is taken by references in the past, and Impact is a value of the perception of the negatives issues.
e.g. Risk value = 4 x 4 = 16 , that is the risk value.

However, I´ve tried to have a more precise value for impact, I´m considering this approach: proposing five aspects into any organization, assigning a value to each, and having an average value, it seems it would be a more precise evaluation, is as follows :

Aspects

1- Loss of contract
2- Negative impact on existing customers
3- Can´t comply contract terms
4- Not complying statutory regulations
5- Cost of reworking

In this case:
2+1+1+1+3= 8/5= 1.6, rounding to 2.

The value of 2 is very different to 4 (obtained initially) , and
Risk, 4x2 = 8 very low value.

Please give some comments on this issue.

Maybe there are other aspects which could be more important.

Thanks
 
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dsanabria

Quite Involved in Discussions
#2
Hello everybody

I want to have your opinion when evaluating the impact of the risk.

Doing it in with no precision, we may apply
PxI, where P is a value, which normally is taken by references in the past, and Impact is a value of the perception of the negatives issues.
e.g. Risk value = 4 x 4 = 16 , that is the risk value.

However, I´ve tried to have a more precise value for impact, I´m considering this approach: proposing five aspects into any organization, assigning a value to each, and having an average value, it seems it would be a more precise evaluation, is as follows :

Aspects

1- Loss of contract
2- Negative impact on existing customers
3- Can´t comply contract terms
4- Not complying statutory regulations
5- Cost of reworking

In this case:
2+1+1+1+3= 8/5= 1.6, rounding to 2.

The value of 2 is very different to 4 (obtained initially) , and
Risk, 4x2 = 8 very low value.

Please give some comments on this issue.

Maybe there are other aspects which could be more important.

Thanks
WOW - why so complex that other people can not follow - keep it simple

Either use the FMEA or create a simple table - Column on Risk, column 2 Ranking Column 3 Mitigation.

Here is what the Aerospace follows or provides information.

Chapter 7.3.2
Supply Chain Management Handbook - Terms of Use
 
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