Are you new to Risk Management and struggling with Risk Management terms?
Are you appearing in any certification exam such as PMP and want to refresh your understanding of Risk Management?
How do you define risk? Risk is something which stops your organization to achieve its objectives.
What is risk management?
Five steps of managing risk include:
Identified risks are recorded in risk register. These risks are analyzed using quantitative or qualitative techniques. One qualitative technique which is commonly used in Probability and Impact Matrix. I have explained this easy to use in detail in this course.
Risks could be negative or positive (opportunity). What are the approaches to address positive and negative risks? We need not only to address the negative risks but also the positive risks.
ISO 9001:2015 is in the process of getting revised. One new thing in this standard is Risk Based Thinking. This ISO 9001 standard will be released by end of 2015. This development has created a great interest in Risk Management.
PMI-PMP, IRCA Registered Lead Auditor, ASQ - CSSBB, CQA, CQE, CMQ/OE, IIA - CIA
Sandeep Kumar has around 30 years of Project Quality Management (Engineering, Procurement and Construction) experience in power, oil/ gas, and mining industry. He has worked as Quality Manager on a number of projects including Power, Oil and Gas and Infrastructure projects.
Currently, he is working as Project Quality Manager on multiple projects in Alberta, Canada.
His areas of specializations include Quality Assurance, ISO 9001:2008, ISO 9001:2015, Six Sigma, QMS Audits, Supplier Quality Surveillance, Supplier Pre-qualification, Construction Quality, Welding, NDT, Mechanical Inspection and Quality Training.
Also, he is interested in the use of technology for training and knowledge sharing. He has authored and presented a number of Quality Management courses for organizations he has worked for.
His professional qualification/certifications include: IRCA registered Lead Auditor (QMS), ASQ-CSSBB, Certified Six Sigma Black Belt (CSSBB), ASQ-CSSGB, Certified Six Sigma Black Belt (CSSBB), ASQ-Certified Quality Auditor (CQA), ASQ-Certified Quality Engineer (CQE) and ASQ-Certified Manager of Quality/Organizational Excellence (CMQ/OE), Certified Project Management Professional (PMP) and Certified Internal Auditor - IIA (CIA).