Topic > Cumminss Case Study - 2104
A "Risk Map", a "Risk Dashboard", and a list of "Top 10 Risks" and their mitigation strategies are maintained to keep the business operational and able to recover from disruptions quickly. Various tools are used to assess risk, such as failure mode and effect analysis, fault tree analysis, and probabilistic models are also used. A scatterplot tool is used to plot the Probability of Failure Index against the Profit at Risk Index that identifies partners that have a higher risk of failure and the corresponding financial impact on profit, as shown in Figure 3. The company prioritizes suppliers that have a high risk of failure and high impact on profit and work their way
tags