Items in the FMRA list are actioned, or risk mitigation steps taken, from the top (most serious effects) of the list downward, as resources (funds, staff, material, etc.) are available. It is also possible for management to decide not to continue below a certain level on the list, as the costs would outweigh any benefits. Corrective actions could include changes in design, procedures, or organizational arrangements. For example, the addition of redundant processes and failure detection methods or a change in policy may be suggested.
Published in Chapter:
Enterprise Cost/Benefit Risk Analysis Using FMEA
Maria Manuela Cunha (Polytechnic Institute of Cávado and Ave Higher School of Technology, Portugal) and Goran D. Putnik (University of Minho, Portugal)
Copyright: © 2008
|Pages: 8
DOI: 10.4018/978-1-59904-885-7.ch064
Abstract
A large body of knowledge covering enterprise integration architectures, modelling, and methodologies (EIAM&M) has been developed covering various types of enterprises. Most viewpoints have been either static or cycle based, with the major drivers being design and implementation of computer integrated manufacturing (CIM) plant and major engineering projects including virtual enterprises (Bernus & Nemes, 1996, p. 377- 450; Whitman & Huff, 1997; Williams, Rathwell, & Li, 2001).