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How to benefit from a Fishbone or Ishikawa Diagram for Root Cause Analysis

What is root cause analysis?Root cause analysis is a structured process that helps healthcare, manufacturing and service sector managers and leaders in identifying contributing factors or causes of an accident, error, problem, event or occurrence. An accident, error, problem, event or occurrence are usually a result of a system rather than an individual mistakes. Understanding the system itself and contributing factors or causes of a system failure can help in preventing recurrences. Actions that are taken to address system failure helps in sustaining the improvements or corrective actions. What is a fishbone or ishikawa diagram? Each and every outcome or effect is an end result of actions taken/omitted or in general causes/ A cause and effect diagram representing this relationship between cause and effect is called a called a fishbone or ishikawa diagram. A fishbone diagram is a visual way to represent cause and effect. It is a more structured approach for brainstorming causes of a pro…
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SRM: Strategic Risk Management

 What is SRM / Strategic Risk Management?

Strategic risk management (SRM) is best described as the process of identifying, assessing, and managing any risk that affects organization's strategy, strategic objectives, and strategy execution. Does your organization have a such process? If you answered yes!, great. Your organization is ahead of many by having a strategic risk management. That’s great! Because that means you have overcome the challenges I talk about in my 5-part video series on Linking ERM to Strategy.


The best and simplest way to describe the strategic risk management process is to say that it requires managing key input variables (internal and external environments) and key output factors (mission, objectives, strategy, and policies).


These factors influence how strategy formulation, implementation, and evaluation and control are related, and how a change in any one factor (e.g., corporate objectives) affects other factors (e.g., strategies, policies, programs, budg…

Essential elements of ERM

Essential elements of ERM

Create your own and tailored #ERM #framework with ease! We have worked hard to incorporate changes from #COSO and #ISO #31000 so that you can benefit without having to invest a lot of time and resources. 




Email us at info@ermgovernance.com for more details.

IMS 100 - Introduction to Incident Management System (e-learning)

Description This introductory course will prepare you to work within the Incident Management System in Ontario. This course is designed to teach you the basic functions, concepts and principles of the Incident Management System (IMS). At the end of this course you will be aware of the major functions within IMS, and be able to assume limited roles within an incident management team for simple incidents.

https://tinyurl.com/ERMGovernance-IMS

Turning Reputation Risk into PR Opportunity: Story of AXA - helping world become better place, a world free from tobacco.

It all started with a letter sent by Dr. Bronwyn King to the AXA board of directors. Story of AXA's divestment in tobacco is one of the greatest in modern times highlighting good governance, corporate responsibility and effective reputation risk management. In a stunning financial decision that will make history, AXA decided to divest around 1.8 billion Euro worth of tobacco-industry stocks.

AXA with over 102 million customers in 56 countries and an employee base of 157,000, is one of the world's leading insurance groups. This decision to divest is not very popular among all of its stakeholders and yet AXA's management took this step as they can see the risks and total cost of tobacco industry as it relates to healthcare cost and loss of lives. Taking this decision will make AXA very popular and respectable company among anti-smoking groups. Overall its a huge win for the company and the society at large as we tackle the issue of tobacco addiction.  Kudos to AXA's man…