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Take right risk

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kumarkk1969

Any thing you is under certain degree of risk? BUT IS THE RISK TAKEN IN A RIGHT MANNER WITH MINIMUM BIAS. TAKE WINNING RISK RATHER THAN; A BIASED RISK OR TOSE DECIDED RISK. DO IT IN A SMART WAY !

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RISK PRIORITY NUMBER (RPN) IDENTIFIES QUANTUM OF RISK FOR PRIORATISING ACTIONS. RPN IS BASED ON; SEVERITY OF PROBLEM, LIKELYHOOD OF OCCURANCE AND LIKELIHOOD OF DETECTION.
MANY TIMES YOU END UP WITH SAME RPN NUMBER UNLESS YOU BRING IN SOME BIAS TO MAKE DIFFERENCE. FOR EXAMPLE :- RPN = Severity*Occurrence*Detection =9X 5X4 =180 RPN = Severity*Occurrence*Detection=3X6X10=180.
WHICH ONE WILL YOU PRIORIZE ? IS YOUR LIKELY BIAS / OVERE ESTAMATION BLURRING THINGS? ARE YOU AGAIN SUBJECTIVE ON THIS SUBJECTIVE ARRIVED RPN NUMBER?
CAN YOU BRING IN A SMART FACTOR FOR THE SITUATION? SMART FACTOR IN THIS CASE IS SIGNIFICANT, MEANINGFUL, APPROPRIATE,REASONABLE,TIME-SENSITIVE MEASURE. WHAT IS THAT ?
CALCULATE - S/OPD,O/RPN,D/RPN.TAKE MAXIMUM OF THEE THREE. WE WILL CALL THIS WEIGHT INDEX. SO THIS WILL BE 1/20 & 1/18 RESPECTIVELY FOR ABOVE CASE.
MULTIPLY RPN WITH THIS INDEX. THAKE THE WEIGHED RPN NUMBER FOR DECIDING PRIORITY. NOW YOU ARE SMARTER AND THE MEASURE IS SMART WITH LIKELY BIAS ELIMINATED
THANK YOU. -P.KRISHNA KUMAR

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Take right risk

  • 1. RISK PRIORITY NUMBER (RPN) IDENTIFIES QUANTUM OF RISK FOR PRIORATISING ACTIONS. RPN IS BASED ON; SEVERITY OF PROBLEM, LIKELYHOOD OF OCCURANCE AND LIKELIHOOD OF DETECTION.
  • 2. MANY TIMES YOU END UP WITH SAME RPN NUMBER UNLESS YOU BRING IN SOME BIAS TO MAKE DIFFERENCE. FOR EXAMPLE :- RPN = Severity*Occurrence*Detection =9X 5X4 =180 RPN = Severity*Occurrence*Detection=3X6X10=180.
  • 3. WHICH ONE WILL YOU PRIORIZE ? IS YOUR LIKELY BIAS / OVERE ESTAMATION BLURRING THINGS? ARE YOU AGAIN SUBJECTIVE ON THIS SUBJECTIVE ARRIVED RPN NUMBER?
  • 4. CAN YOU BRING IN A SMART FACTOR FOR THE SITUATION? SMART FACTOR IN THIS CASE IS SIGNIFICANT, MEANINGFUL, APPROPRIATE,REASONABLE,TIME-SENSITIVE MEASURE. WHAT IS THAT ?
  • 5. CALCULATE - S/OPD,O/RPN,D/RPN.TAKE MAXIMUM OF THEE THREE. WE WILL CALL THIS WEIGHT INDEX. SO THIS WILL BE 1/20 & 1/18 RESPECTIVELY FOR ABOVE CASE.
  • 6. MULTIPLY RPN WITH THIS INDEX. THAKE THE WEIGHED RPN NUMBER FOR DECIDING PRIORITY. NOW YOU ARE SMARTER AND THE MEASURE IS SMART WITH LIKELY BIAS ELIMINATED