Risk Management using Failure Modes Effects Analysis
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Risk Management using Failure Modes Effects Analysis

Become an Expert, Conduct Detailed Risk Assessments and build Fail Proof Processes
3.6 (6 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
17 students enrolled
Last updated 4/2016
English
Current price: $10 Original price: $35 Discount: 71% off
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Includes:
  • 44 mins on-demand video
  • 2 Articles
  • 3 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Learn foundational skills in Risk Management beyond today's hype and buzzwords & turn your firefighting efforts into proactive actionable insights to mitigate risks
  • Apply the FMEA to any specific situation of your process or business and effectively eliminate/reduce associates risks
  • Receive FMEA Certificate on successful completion of the course project work
View Curriculum
Requirements
  • There are no-requisites. This course is comprehensive and designed to bring up you to pace from ground zero
Description

Is a glorious failure is better than a petty success? I’m all for the petty success. A glorious failure leads to nothing; a petty success may lead to a success that is not petty - Arnold Bennett.

Every action or in-action in Business involves a potential risk. As a manager of a process, an entrepreneur or a sales manager, you can scoop up success and avoid failures with your tact and vigil. But that will consume you energy and time, leaving you exhausted.

Instead a systematic approach to identifying and managing potential issues in your business processes can mean better & consistent business results and ‘peace of mind’. 

The aim of this course is to allow you to understand the foundation skills in Risk Management beyond today's hype and buzzwords—and describes how an entrepreneur, business manager can turn their firefighting efforts into proactive actionable insights. A novice to risk management will equally benefit through this course.

Unlike many foundation course, this course quickly deep dives to a Risk Management Tool used by NASA called Failure Modes & Effects Analysis (FMEA) and shows how best to apply it to specific business problems and opportunities within their organization.

There is more than 1 reason to consider this course:

  1. Receive FMEA Certification on successful completion of project work (details included)
  2. Free FMEA Template and Step-by-Step instructions covered in detail
  3. Examples for various industries including Manufacturing and Services included

By the end of the course, you will be able to apply the FMEA to any specific situation of your process or business and effectively eliminate/reduce associates risks by carrying out the following steps:

  • Proactively identify all potential issues across the business
  • Analyze impact of the each issue, its occurrence & existing control mechanisms
  • Prioritize risk that need immediate action
  • Systematically plan response/mitigation plan
  • Implement and reassess
  • Monitoring and control risks ongoing basis
Who is the target audience?
  • Professionals from industries such as Information Technology, Banking & Financial Services, Manufacturing, Healthcare, Retail Distribution, & Education
  • Functional experts from Operations, Project Management, Finance, Engineering, Sales Operations, HR and Quality
  • Final year MBA/Engineering students who wish to differentiate themselves in Job Market
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Curriculum For This Course
Expand All 11 Lectures Collapse All 11 Lectures 46:16
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Risk Management using FMEA
8 Lectures 40:31

In this lecture, you will learn about significance of risk management in general. We will start with the definition of risk and move further. At the end of this lecture, you will be able to appreciate the importance of risk management while managing processes.

Preview 03:25

In this lecture, you will learn about significance of risk management in general. We will start with the definition of risk and move further. At the end of this lecture, you will be able to appreciate the importance of risk management while managing processes.

Preview 09:47

In this lecture, you will learn about FMEA and various concepts associated with it. At the end of this lecture, you will be able to associate the concepts to a given scenario.

FMEA basics
08:03

In this lecture, you will learn step by step procedure to complete a FMEA in the specified format. At the end of the lecture, you will be able to create a FMEA for any suitable scenario to reduce business/process risk.

Creating FMEA, one step at a time
05:51

We have identified, all potential risks. Now we will be prioritizing Risks from FMEA to move towards actions to reduce risks.
Priortize Actions for Risk Reduction
05:51

Risk Mitigation Strategies for FMEA
02:15

If you have to put your learning to practical use, it will be good for you will learn about few common applications of FMEA.

Practical Applications of FMEA
01:20

In new design development, FMEA is called as Design FMEA. Learn a little more about it now. 

Designing a new product? Consider Design FMEA
03:59

Test your FMEA Knowledge
5 questions
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Practicing FMEA
3 Lectures 05:49

Practice time... Hurray!

FMEA Practice
00:32

You will learn about the live project work that you will have to fulfill for FMEA certification.

Description of Project Work
02:48

In this lecture, I'll share with you the criteria for certification and associated steps.

Closing Notes & Procedure to Obtain FMEA Certification
02:29
About the Instructor
Nilakantasrinivasan Janakiraman
4.2 Average rating
828 Reviews
5,957 Students
6 Courses
Customer Experience & Business Transformation Leader

Neil helps a range of large enterprises in services and manufacturing, with particular emphasis on execution of business & functional strategies, customer experience & process transformation.

Being a Certified Six Sigma Master Black Belt, Neil has led several change initiatives & projects with approved financial benefits of over $20MN, of which $4Mn was executed by him personally. He has demonstrated results in unconventional areas such as sales, HR, technology, risk & compliance, program office, administration & security, procurement, etc.

He is passionate about coaching executives on execution orientation and educating young professionals & students in Lean Six Sigma.