Answer to Question #216649 in Management for Okanna

Question

With relevant examples discuss how you would apply the following in risks management: Fault Tree, FMEA, 

Bowtie and Force Field analysis.

Answer 1

Fault tree analysis

1. Defining of the failure in the project.

2. Evaluating and understanding the project.

3. Constructing the fault tree.

4. Carrrying out evaluation on the fault tree and deciding on the corrective measures.

For example, in development of a new product.

FMEA analysis

1.Identifying the potential failures and effects. 

2. Determining the severity of the failure.

3. Gauging the likelihood of occurrence.

4. Failure detection.

For example, in determining the effect of a process.

Bowtie analysis

1. Establishing of the top event.

2. Establishing the preceding events to the initial or root cause.

3. Establishing the outcomes following the top event.

4.Establishing all the damages.

For example, in manufacturing processes.

Force field analysis

1. Describing the situation, currently.

2. Describing of the wanted situation.

3. Evaluating what will happen if the current situation is not addressed.

4. Listing all the forces driving and resisting change toward the wanted situation.

For example, improving a product or service.