In this post we will focus on risk management for the change effort. Since many of you are maintenance and reliability engineering type folks I would suggest that you use you failure modes effects analysis (FMEA) tools to look at the change you are trying to make. Think about what the function or goal of the change is. Next you would think about the ways your change or initiative could fail to meet its function. Then think about what might go wrong that could cause each of the failures. Once you have completed that step you can look at what you are currently doing to prevent the failure. Then you could apply a ranking like risk priority number (RPN) to bring the high risk modes of project failure to the top of the list. RPN is assigned based on three factors multiplied together: severity for the failure times the probability of occurrence times the chances of detection prior to failure. These are all on a ten point scale. Once this is done then you can look at the high risk elements and create communication and project strategies that will lower the risk in one of the three factors of RPN. If you take this step then you will be ready for next week’s blog which will dive into the communication strategy. If you would like to see past blogs on this subject then click here.
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