What is "Risk Based Thinking"

The Risks related with an organization can be mainly separated to 3 categories.

•       Enterprise Risk – Governance

•       Risks related to operation of the business, systematic issues, materials issues, etc.

This comes with the top management levels and during managerial decision making. 

•       Project Risk

•       Risks related to planning and delivery of a product or service and not being able to meet project’s scope/quality, schedule, costs including technology and others.

This is with the scope of the organization and also related with management decision making. 

•       Process Risk – Compliance/ Assurance

•       Risk relating directly to planning and delivery of a product or service and not being able to meet, Stability, Capability, Improvement; inability to achieve consistent outcomes.

This is directly associated with the production / service process and will have to cope with the OEE and other related analysis systems.