Risk Management and FMEA Tool Example
Risk Management and FMEA Approach
We walk through the use of the Failure Mode Effects Analysis (FMEA) tool used as a risk register that we can use for our project risk management. Using this approach we can uncover, assess, and plan our risk response actions in one sheet. That includes identify our control or mitigating actions and ascertain the amount of influence or degradation of risk has theoretically happened as a result of our work. The tool is also set up with specific metric and values to identify when the risk is imminent, and a specific person to monitor this particular risk as we know if everybody is responsible, then nobody is responsible. There is even a column for the monitoring.
The template is a downloadable and is found by clicking this link https://www.valuetransform.com/downloads/