Answer to Question #218317 in Management for Ncoo

Question

QUESTION 2 [50 Marks] Use havard style for referencing.

2.1 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

It is a risk management tool that can show various combinations of undesirable or unwanted events and represent them in a structural model. This can help identify the root cause of a fault (Wessiani et al. 2018, p 13). A good example of managing uncertainties in projects, a fault tree can be used to identify possible defects to manage risks.

FMEA

FEMA is a procedural approach to identifying possible failures in a process or a design. Therefore, this can be used to identify failures, prevent and reduce risks Zandi et al., 2020, p 504). For example, I can use FEMA to identify and rank possible failures in odder severity to determine how and which failure should be addressed first; this would help reduce the most severe risk in an organization.

Bowtie

Bowtie helps identify pathways from the root cause of a risk to its impacts in a graphical depiction. This would allow me to identify gaps and appropriate controls (Mulcahy et al., 217, p 14). For example, Bowtie can be used to determine the cause of unavailable internet access (risk) in an organization leading to lack of customer service (consequence), which may be as a result of power failure (cause), then determine the proper controls such as a backup generator.

Force Field analysis

Force field analysis is a technique that I can use to weigh the pros and cons of a particular process or project against change and depict them. Once this is done, it would be easy to decide how to proceed (Sharma et al. 2018, p12). For example, in law informant, determining the crime rate and initiating control factors or decreasing the rising crimes is equally essential; however, those controls may affect this step. To make better decisions, therefore, Force Field analysis can be used.

References

Mulcahy, M.B., Boylan, C., Sigmann, S. and Stuart, R., 2017. Using bowtie methodology to support laboratory hazard identification, risk management, and incident analysis. Journal of Chemical Health & Safety, 24(3), pp.14-20.

Sharma, S.K., Singh, R. and Matai, R., 2018. Force field analysis of Indian automotive strategic sourcing risk management enablers and barriers. Measuring Business Excellence.

Wessiani, N.A. and Yoshio, F., 2018, April. Failure mode effect analysis and fault tree analysis as a combined methodology in risk management. In IOP conference series: materials science and engineering (Vol. 337, No. 1, p. 012033). IOP Publishing.

Zandi, P., Rahmani, M., Khanian, M. and Mosavi, A., 2020. Agricultural Risk Management Using Fuzzy TOPSIS Analytical Hierarchy Process (AHP) and Failure Mode and Effects Analysis (FMEA). Agriculture, 10(11), p.504.