What happens if this goes wrong?
- Operational risk.
What’s the effects if our product fails?
- Occupational risk.
What harm can our own staff encounter doing their job?
- Hazard identification.
How do we evaluate what hazards our product could produce?
- Consequence prediction.
How do we evaluate the potential severity of those hazards?
- Asset whole life cost models.
What’s the life time cost and risk of our product?
- Financial risk.
If we encounter hazards what effect does that have on or business?
- Warranty factorisation.
Do we build in quality at a cost or do we make it cheap and deal with problems with a warranty, what does the whole life cost model say?
Now we know the risks associated with our product we can get the right insurance.
Now we know the risks, how do we reduce them?