NC 4.0, a Novel Approach to Nonconformities Management: Prioritizing Events With Risk Management Tools

Quality 4.0, the correspondent quality practice fit to address the Industry 4.0 mindset, is expected to provide models and processes endorsed by continuous improvement and data-driven proofs, especially given the exponential growth in available data. The research consolidates the reality of big data availability (part of Quality 4.0) with a generic aspect of quality—managing nonconformities. Its purpose is to suggest a model to improve the initiation step for dealing with nonconformity by prioritizing these events. The new concept in the model suggested is incorporating the risk management method of prioritizing into the nonconformity’s management. These tools are designed to transform qualitative data into quantitative ones and enable easier decision-making, in this case, choosing which issue to deal with first. The research approach is developing and testing the suggested model as a pilot in a real production environment to establish its impact and define key guidelines for utilizing it in various processes and, in addition, to conduct a survey among quality experts from different organizations for reference. Two main outcomes were achieved during the research: The quality experts’ survey welcomed the model concept as a structured tool based on the solid risk management methodology. Implementing the model on actual production lines resulted in a significant reduction of NC financial impact as the events were solved as per their impact.

El papel del archivero en la gestión del riesgo asociada a la gestión de documentos

La gestión de riesgos apareció a mediados del siglo XX dentro de las empresas privadas. No obstante, la relación de la gestión del riesgo con la gestión documental es relativamente reciente y la mayoría del conocimiento se concentra en las normativas internacionales. El objetivo de este trabajo es aplicar la metodología de gestión de riesgos asociados con la gestión de documentos en el proceso de implantación de la Administración Electrónica en el Gobierno de Aragón. Se concluye con la necesidad de integrar las materias de gestión de riesgos y de gestión documental en el proceso de implantación de la administración electrónica. Risk management appeared in the mid-20th century within private companies. Nevertheless, the relationship between risk management and records management is relatively recent and most of the knowledge is concentrated in international regulations. The aim of this study is to apply risk management methodology to records management in the process of implementation of electronic Administration in the Government of Aragon. It is concluded the need to integrate the subjects of risk management and document management in the process of implementation of electronic administration.

MANAGING RISK WITH THE USE OF COMPUTER SIMULATION

Internal and external risk management has become an important issue in today's global business environment, which is fraught with health, natural, political, economic and technical threats. This article deals with the design of a methodology for problem-solving and risk management in connection with computer simulation. The risk management methodology proposed by us consists of individual steps, which are summarized into three stages - risk assessment, risk analysis and risk management. The proposed computer simulation methodology consists of several steps, for example creating a parametric simulation model, designing experiments, analysis of the simulation model results or the evaluation of the simulation results. These steps are described in the article. After completing the previous steps, we describe the points of an action plan and what it must contain to avoid consequences and the impact of risks at the lowest possible level. An example of the use of computer simulation is the risk situation associated with the fluctuation of employees. In the end, the proposed methodology is supported by the results of our research and its further direction.

Risk management methodology in the supply chain: a case study applied

This work provides a general risk management procedure applied to synchronized supply chains. After conducting a literature review and taking the international standard ISO 28000 and ISO 31000 as a reference. The most important steps that enable organizations to carry out supply chain risk management are described. Steps such as defining the context, identifying and analyzing risks or avoiding them, controlling them and mitigating them are some of the main points of this work. On the other hand, we carried out a practical case in which the execution of this procedure is carried out in a real supply chain located in the city of Jaén. In this specific case study, the most important risks and those that require early treatment will be discussed. In addition, a series of suggestions and ideas will be established, by way of conclusions, that allow said organization to improve the results that we have obtained in risk management.

Features of Investment Risk Analysis and Assessment

The article examines the essence of the analysis and assessment of the risks of investment projects in the innovative development of the country's economy. One of the most important tasks for investors in the context of the coronavirus crisis is the analysis, assessment and effective management of risks that can affect investment projects before investing. And also, the investor must identify the factors that negatively affect the project and develop measures to reduce their negative impact. Based on the above, it can be said that improving the risk management methodology and evaluating investment projects based on modern and best practices has become one of the urgent tasks. In this article, the author explains the essence of risk management and presents the main stages of risk management developed by foreign and domestic economists, and also expresses her own opinion about the stages of risk management of investment projects in the form of a scheme. The article also presents the content of the methods of risk analysis that are frequently used in practice. In particular, the author shows the essence of methods for assessing investment risks, such as Break-even point, the sensitivity analysis of the project, the method of Scenarios, the method for assessing the sustainability of the project, Expert evaluation method, Analogy method, and others. We can identify two aims of research: 1) to study the stages of investment risk management, developed by foreign and domestic scientists, and, on their basis, to propose the stages of risk management, developed by the author; 2) to study various methods of risk assessment, which are a key part of investment risk management, and develop proposals for their application in Uzbekistan. To achieve the objectives of the study, the following tasks were identified:  explain the content of the economic categories “risk” and “investment risk”;  explain the content of investment risk management;  study of the process (stages) of investment risk management, developed by foreign and domestic economists;  development by the author of the stages of the investment risk management process;  study and outline methods for assessing the risks of investment projects;  development of recommendations on the application of risk assessment methods in Uzbekistan. Subject of research: methods for assessing the risks of investment projects. Information sources for writing the research was books and articles by foreign and domestic economists.

Risk Management of Bored Piling Construction on Sandy Soils with Real-Time Cost Control

In a global society, in which geotechnical projects are increasingly designed in a country other than the one where construction takes place, geotechnical risk management must be extended to cover infrastructure works, which are smaller than dams and tunnels, for example, since there is a significant impact on works budget imponderables. Therefore, a risk management methodology based on the likelihood of the occurrence of certain events and their economic consequences is proposed, which is applicable to bored piles (Kelly drilled) in coarse soils, easy to use, and simple to implement since the initial stage of construction. Of 12 case studies of construction works involving bored piles (Kelly drilled) carried out in Luanda (Angola), two selected examples involving the proposed risk methodology on sandy soil layers with interbedded clays are discussed. Subsequently, whether the overall foundation contract budget is affected by assessed risk is determined, and what influence it has on the budget in the light of mitigating factors and associated real costs. This method intended to encourage the adaptation of sustainable risk management in bored piles construction by the site project managers, involving risk analysis concurrently with budgetary review. Though the level of assessed technical risk may be acceptable, overall costs associated with the contract in question may not be acceptable.

Problem Solving and Risk Management Methodology

Intending to lead organizations to continuous improvement, this chapter proposes a methodology that involves three axes: risk management, problem- solving, and feedback experience. This methodology allows organizations to characterize the experiences they have already confronted, as well as new experiences (which can be risks or problems) with the use of taxonomies established by the organization. It also enables them to capitalize and exploit their knowledge base. This work proposes a best-use approach of the past experiences that are similar to a current event and facilitate their treatment and provide solutions. The authors take the feedback as a point of articulation between the two methodologies because it is a mechanism that offers knowledge where it can be found that the organizations must avoid and take advantage of.

Managing Cultural Risks

Risk assessment is a process that allows us to understand risks, define risk criteria, assess the probability and the consequences of that risk occurring, define a level of risk we can tolerate and afford, and define a cost-effective and efficient mitigation treatment. The authors provide a risk assessment and analysis method that the reader can use to (1) build cultural risk into your organizational risk management profile and (2) adapt the organization's risk management profile to include cultural risks. The method builds upon but extends the ISO 31000/31010 risk management methodology to determine the level of cultural risk your organization is carrying. The authors walk through and translate each of the seven steps to account for cultural risks.