Product risk management can be approached in different ways and this class presents a framework for evaluating product risk based on the product life cycle. The cycle begins when a product or service is conceptualized and ends when the institution stops offering it or the consumer stops using it (voluntarily or involuntarily). Each stage of the cycle can be subject to its own risks and challenges. This class covers various approaches to managing risk at each product stage using ISO 31000 as a process to assess both risks and challenges.
Who Should Attend
This course is designed for individuals and managers interested in learning how to apply risk management to different phases of the product life cycle.
Upon completion of this training, participants will be able to:
- Describe the fundamentals of Risk Management (RM) using ISO 31000 as a model
- Elaborate on the key principles of RM
- Identify key aspects and interrelationships of Risk Management with the Organization’s Product Life Cycle
- Describe the Risk Management process
- Identify and quantify Risks
- Experiment with Risk Management Tools
- Managing Risk – Why? What it is!
- ISO 31000 – 2018 – “Risk Management — Guidelines”
- Risk Management Principles, Framework, Process
- Risks during the Product Life Cycle Review
- Application of Risk Tools during the Product Life Cycle
- Risk Tool and Exercises
1-day (8 hours)
Combination lecture and classroom exercises