Risk Management and FMEA for Product Development

Managing time-to-market through proactive risk management

This workshop can be customized to meet your needs, and is delivered at most locations internationally.

Contact us for more information.

Risk is the chance of something going wrong with your development project. The art and science of managing risk has seen resurgence in the last decade, perhaps due to the increasing chaotic nature of business. “If you are not managing risk — you are not managing your project.” These words ring true when it comes to product development. The variability of technology, markets, product features, and customer requirements make product development a prime area of risk management application.

Risk Management is applied to help achieve four specific goals in product development:

1. Reduce time-to-market by making obstacles and barriers visible early in the development process.
2. Improve reliability by identifying failures with high probability of occurring.
3. Reduce waste by diminishing re-design work and other non-value-added activities.
4. Improve customer satisfaction by reducing possible failures, defects, and design flaws.

This intensive workshop provides a unique approach to risk management when compared to traditional offerings. Specifically the workshop provides:

• The benefits of Risk Management combined with FMEA (Failure Mode and Effects Analysis); thus you get the best practices from both.

• Proactive Risk Management methods, tools, and templates to allow for continuous monitoring, updating and greater value from your efforts.

• Tools needed to enable your team to succeed, including problem solving, Root Cause Analysis, Advanced Communication Skills, and other essential team tools.

• Many examples and illustrations to enable you to actually use the material covered in class.

• The step-by-step process to ensure successful risk management and FMEA.

This workshop answers the following key questions:

• What is the business case for risk management in product development?

• What is the Closed-loop Kaizen framework to ensure maximum value from risk management?

• How do we select the best risk management methodology for a specific project?

• What is the best way to describe a risk such that the entire team will support it?

Why Participants Value this Workshop:

• Highly interactive: A experienced instructor will facilitate the entire session where participants are continuously challenged.

• Highly practical: Lectures are kept to a minimum.  Participants in small teams will learn by using every tool to ensure that they can apply the tools and techniques when they return to their offices.

• Immediately applicable: Every participant receives a 162-page paper guidebook with detailed explanations and references, plus the electronically enhanced CD version.  This highly rated CD makes every process, template and tool covered in class fully interactive and cross-linked so that participants can immediately apply the materials and share with their teams.

Who should attend?

Key stakeholders in product development:

• Engineering Managers and Engineering Leads who are responsible for delivering new products

• Project and Program Managers who lead teams in product development

• Marketing Managers and Product Managers who are accountable for delivering new products on time

We understand that every organization has its own culture and business objectives. Thus, we can customize Risk Management to achieve your goals. For example:

• We can provide minimum to comprehensive training with a wide variety of modules

• We can work with your team on a specific project

• We can tailor the syllabus with the topics of special relevance to your teams

• We can offer the class in a single session, or break it up into several smaller meetings

• We can train your trainers and facilitators

Workshop Outline

INTRODUCTION TO RISK MANAGEMENT

Critical Definitions

• Risk, and Proactive Risk Management

• Risk in product development

• The Uncertainty Continuum (The bedrock of risk management)

• The “Closed-loop” Kaizen (The highest return from risk management)

• Types of risks in product development

The Business Case for Risk Management

• Why risk management?

• Engaging managers and executives to support risk management

Risk Management and the Product Life Cycle

• Selecting the best risk management approach for your project

• Chartering a Risk Management Team (Roles, responsibilities and authority)

• Deciding the areas of focus for your risk management efforts

Risk Management, a Simplified Process

• How to identify risks

• How to prioritize risks

• How to develop the Risk Management Plan

• How to monitor risks

• How to take action in the view of risk

Our Guarantee

If for any reason you are not satisfied, write to us within 30 days after attending the workshop and return the course materials and we'll arrange for you to receive a full refund - hassle-free!