Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
In my book, “State of Readiness” is a brief discussion on “Effects Chains” (pgs 271-277); which is really a re-branding (for purposes of sensibilities) of “kill chains” that I borrowed from military parlance and adapted to business. In the context of the military, a kill chain refers to a series of stages or steps that…
This article is provided courtesy of theleanmag, a content partner of the Operational Excellence Society. As I engage with both executive teams and board members around the country, I’ve come to gain a depth of understanding of the challenges faced within the machinery of healthcare organizations operating system. Exacerbated by the great resignation and silent quitting…
Why It Matters. MIT Sloan experts offer a systematic approach to organizational resilience that can help leaders manage risk and rebound rapidly when catastrophic events strike. Consider the recent system failures at Southwest Airlines that put the brakes on holiday travel. Or the Deepwater Horizon oil spill or the Norfolk Southern freight train derailment, both of which rapidly became…
In this conversation, Alan shares his life’s journey as a pilot. From earning his pilot’s license before most people earn their driver’s license all the way to becoming a research pilot for NASA and it’s SOFIA program. I met Alan while I was on assignment in Denver. He and his team from NASA were also…
Artificial Intelligence (AI) has the potential to significantly impact the field of continuous improvement by providing organizations with new tools and techniques to identify and eliminate waste and improve performance. Some ways that AI can be used in continuous improvement include: It is worth mentioning that AI is not a silver bullet, the success of…
This article is provided courtesy of CERM® Risk Insights, and publication of the CERM® Academy, a content partner of the Operational Excellence Society. Safety and sustainability are the major considerations within the growing electric vehicle industry, there is lots of excitement and lots of challenges in the fast-moving electric vehicle industry and both descriptions quickly work…
