Methods for Proactive Risk Identification & Assessment
Effective proactive risk control relies on structured methods for identifying and assessing potential threats before they materialize.
Utilize techniques like Brainstorming sessions involving cross-functional teams to surface a wide range of potential risks based on collective experience and diverse perspectives.
Employ structured methods like FMEA (Failure Modes and Effects Analysis) or HAZOP (Hazard and Operability Studies) to systematically analyze designs or processes for potential failure points.
Develop and maintain comprehensive Risk Registers to document identified risks, their potential impact and likelihood, ownership, and planned mitigation strategies.
Conduct 'Pre-mortem' exercises before starting major projects: assume the project has failed and brainstorm all the reasons why, then develop preventative actions.