Foundations of Quality Risk Management

A Practical Approach to Effective Risk-Based Thinking

Jayet Moon

• Publisher: ASQ Quality Press
• Year: 2022
• Print ISBN: 9781951058326
• eBook ISBN: 9781951058333
• Edition: 1
• Topic: Business
• Subtopic: Insurance
• Index: Business

In today's uncertain times, risk has become the biggest part of management. Risk management is central to the science of prediction and decision-making; holistic and scientific risk management creates resilient organizations, which survive and thrive by being adaptable. This book is the perfect guide for anyone interested in understanding and excelling at risk management.It begins with a focus on the foundational elements of risk management, with a thorough explanation of the basic concepts, many illustrated by real-life examples. Next, the book focuses on equipping the reader with a working knowledge of the subject from an organizational process and systems perspective. Every concept in almost every chapter is calibrated to not only ISO 9001 and ISO 31000, but several other international standards.In addition, this book presents several tools and methods for discussion. Ranging from industry standard to cutting edge, each receives a thorough analysis and description of its role in the risk management process. Finally, you'll find a detailed and practical discussion of contemporary topics in risk management, such as supply chain risk management, risk-based auditing, risk in 4.0 (digital transformation), benefit-risk analyses, risk-based design thinking, and pandemic/epidemic risk management.Jayet Moon is a Senior ASQ member and holds ASQ CQE, CSQP, and CQIA certifications. He is also a chartered quality professional in the U.K. (CQP-MCQI). He earned a master's degree in biomedical engineering from Drexel University in Philadelphia and is a Project Management Institute (PMI) Certified Risk Management Professional (PMI-RMP). He is a doctoral candidate in Systems and Engineering Management at Texas Tech University

Table of contents

• Cover
• Title page
• Copyright
• Dedication
• Epigraph
• Foreword
• Preface
• Acknowledgments
• 1. Introduction to Risk Management
• 2. Quality and Risk Management
• 3. So, What Is Risk?
• 4. Risk-Based Thinking
• 5. Risk-Based Decision Making
• 6. ISO 9001 and Risk Management
• 7. Basic Risk Identification and Analysis
• 8. Events and Consequences
• 9. Basic Risk Modification
• 10. The Stakeholder
• 11. Upside of Risk: Opportunity
• 12. Detailed Risk Identification
• 13. Chance and Possibilities
• 14. Organizational Context and Risk Management: The Working Details
• 15. Stakeholder Risk Attitude and Appetite
• 16. Organizational Context and Risk Management 2: The Top View
• 17. Comprehensive Risk Management Maturity (CoRMM) Model
• 18. Risk Management Planning and Risk Management Plan
• 19. Risk Process Facilitation
• 20. The Risk Repository (Risk Register or Hazard Log)
• 21. Detailed Risk Identification Tools
• 22. Checkpoint: Risk Assessment—a Macro View
• 23. Hazard, Hazardous Situation, and Benefit and Harm
• 24. Detailed Consequence Analysis
• 25. Risk Analysis
• 26. The Risk Matrix and Its Constituents
• 27. Risk Evaluation
• 28. Risk Treatment/Modification Selection
• 29. Risk Response Planning
• 30. Monitoring and Reviewing Risk
• 31. Monitoring and Reviewing Risk 2
• 32. Graphical Tools for Monitoring and Reviewing Risk
• 33. Visual Risk Exposure Tracker
• 34. A DMAIC Approach for Structured Risk-Based Trending
• 35. Risk-Based Auditing
• 36. Risk-Benefit Analysis
• 37. Cognitive Science of Risk-Based Decision Making
• 38. Risk-Based Design Thinking: Risk Mitigation by Design
• 39. Supplier or Vendor Risk Oversight
• 40. Risk in Industry 4.0
• 41. Advanced Risk Tools: Failure Modes and Effects Analysis (FMEA)
• 42. Advanced Risk Tools: Hazard Analysis
• 43. Advanced Risk Tools: Hazard and Operability Study (HAZOP)
• 44. Advanced Risk Tools: Hazard Analysis and Critical Control Points (HACCP)
• 45. Advanced Risk Tools: Fault Tree Analysis (FTA)
• 46. Advanced Risk Tools: Monte Carlo Analysis
• 47. Pandemic and Epidemic Risk Management
• Bibliography
• About the Author