quality - Blog - Global Risk Community2024-03-28T21:49:19Zhttps://globalriskcommunity.com/profiles/blogs/feed/tag/quality11 Pillars: Quality 4.0 Frameworkhttps://globalriskcommunity.com/profiles/blogs/11-pillars-quality-4-0-framework2021-02-17T10:35:00.000Z2021-02-17T10:35:00.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;"><a href="{{#staticFileLink}}8563874691,original{{/staticFileLink}}"><img class="align-right" src="{{#staticFileLink}}8563874691,RESIZE_400x{{/staticFileLink}}" alt="8563874691?profile=RESIZE_400x" width="360" height="240" /></a>The introduction of emerging, digital technologies has ushered in the Fourth Industrial Revolution. To keep the competitive advantage in this era of Digital Transformation, leveraging contemporary technology is an absolute necessity. Using cutting-edge technology means not just augmenting, but in fact, revamping the whole Quality outlook.</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Quality 4.0 is the complimentary Quality approach to the Industry 4.0 era. Quality 4.0 is about transforming and improving Organizational Culture, collaboration, competency, and Leadership Development among other things through the application of technology.</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Quality 4.0 is characterized by:</p><ul style="margin:0px 0px 15px;padding:0px 0px 0px 30px;border:0px;font-size:13px;vertical-align:baseline;background-position:0px 0px;list-style:none;font-family:Georgia, serif;"><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:disc;">Transforming and improving culture, collaboration, competency, and leadership through the application of technology.</li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:disc;">Digital Transformation of Management Systems and compliance.</li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:disc;">Enabling technology and processes necessary to maximize value, resolve customary Quality impediments, and provide innovative solutions.</li></ul><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Quality 4.0 is not just about Digitalization, but more importantly about the impact of that Digitalization on Quality technology, processes, and people.</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Companies can use the 11 pillars of Quality 4.0 Framework to identify how the existing capabilities and initiatives can be transformed and then educate, plan, and act accordingly. The framework uses the traditional Quality methods to build upon and improve them. The 11 pillars of Quality 4.0 include:</p><ol style="margin:0px 0px 15px;padding:0px 0px 0px 30px;border:0px;font-size:13px;vertical-align:baseline;background-position:0px 0px;list-style:none;font-family:Georgia, serif;"><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Data</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Analytics</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Connectivity</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Collaboration</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">App Development</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Scalability</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Management Systems</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Compliance</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Culture</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Leadership</span></li><li style="margin:0px;padding:0px;border:0px;font-size:15px;vertical-align:baseline;background:0px 0px;line-height:21px;color:#333333;list-style-type:decimal;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;font-weight:bold;">Competency</span></li></ol><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;"><a style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;color:#001a66;" href="https://flevy.com/browse/flevypro/quality-4-0-series-primer-5356"><img class="aligncenter size-full wp-image-7642" style="margin:0px auto 15px;padding:3px;border:1px solid #e2e4e5;vertical-align:bottom;background:rgba(255,255,255,0.7);text-align:center;height:auto;display:block;" src="https://flevy.com/blog/wp-content/uploads/2020/11/Slide-Deck-image-Quality-4.0.png" alt="" width="1002" height="752" /></a></p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">The majority of the companies are still not in a position to take leverage of Quality 4.0. This warrants making investments in improving traditional Quality and bringing themselves in a position where they can spring up to use Quality 4.0 to prepare for the future.</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">There are strong interrelationships between the pillars of Quality 4.0, and adding new capabilities to certain pillars facilitates new applications on other pillars. Let us delve a little deeper into a few of these pillars.</p><h3 style="margin:0px 0px 0.5em;padding:0px;border:0px;font-size:20px;line-height:1.5em;font-family:Arial, sans-serif;vertical-align:baseline;background-position:0px 0px;color:#222222;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;">1. Data and 2. Analytics</span></h3><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;"><a style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;color:#001a66;" href="https://flevy.com/business-toolkit/data-and-analytics">Data and Analytics</a> form the first 2 pillars. Data is key to informed <a style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;color:#001a66;" href="https://flevy.com/business-toolkit/decision-making">decision making</a>. Most companies are still using fragmented data while the innovating market leaders have progressed to taking leverage of Big Data. Data can be better understood by understanding its 5 components: Volume, Variety, Velocity, Veracity, and Transparency.</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Analytics help reveal the insights contained within raw data. Correct metrics are key to uncovering correlations and patterns—meaningful information. Big Data Analytics using Machine Learning and Artificial Intelligence is beneficial if the Analytics Framework—comprising Descriptive, Diagnostic, Predictive, and Prescriptive Analytics—is understood clearly.</p><h3 style="margin:0px 0px 0.5em;padding:0px;border:0px;font-size:20px;line-height:1.5em;font-family:Arial, sans-serif;vertical-align:baseline;background-position:0px 0px;color:#222222;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;">3. Connectivity</span></h3><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Connectivity encompasses the link between Business Information Technology—e.g., Enterprise Quality Management Systems (EQMS), Product Life-cycle Management (PLM), Enterprise Resource Planning—and Operational Technology that is used in Manufacturing, Labs, and Services. Connectivity is achieved through abundant and inexpensive sensors providing real-time feedback from Connected People, products, edge devices, and processes.</p><h3 style="margin:0px 0px 0.5em;padding:0px;border:0px;font-size:20px;line-height:1.5em;font-family:Arial, sans-serif;vertical-align:baseline;background-position:0px 0px;color:#222222;"><span style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;">4. Scalability</span></h3><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Scalability creates uniformity in Quality. It is the ability to harmonize processes, best practices, competencies, and lessons learnt across the organization, be it global. Cloud Computing has played a pivotal role in harnessing scalability by providing Software as a Service (SaaS), Infrastructure as a Service (IaaS), Platform as a Solution (PaaS), and connection of databases.</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">The reality of the future is Quality 4.0. It is being adopted very swiftly. Those who remain unfamiliar with it or are slow to adopt run the risk of being marginalized very quickly.</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">Interested in learning more about Quality 4.0? You can download <a style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;color:#001a66;" href="https://flevy.com/browse/flevypro/quality-4-0-series-primer-5356">an editable PowerPoint on <strong>Quality 4.0</strong> here </a>on the <a style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;color:#001a66;" href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><h3 style="margin:0px 0px 0.5em;padding:0px;border:0px;font-size:20px;line-height:1.5em;font-family:Arial, sans-serif;vertical-align:baseline;background-position:0px 0px;color:#222222;">Do You Find Value in This Framework?</h3><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-size:15px;line-height:21px;font-family:Georgia, serif;vertical-align:baseline;background-position:0px 0px;color:#333333;">You can download in-depth presentations on this and hundreds of similar business frameworks from the <a style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;color:#001a66;" href="https://flevy.com/pro/library">FlevyPro Library</a>. <a style="margin:0px;padding:0px;border:0px;vertical-align:baseline;background:0px 0px;color:#001a66;" href="https://flevy.com/pro">FlevyPro</a> is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:</p><blockquote style="margin:0px;padding:10px 20px 10px 50px;border:0px;font-size:13px;vertical-align:baseline;background-position:0px 0px;position:relative;color:#444444;font-family:Georgia, serif;"><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-style:italic;font-size:15px;line-height:21px;vertical-align:baseline;background:0px 0px;color:#333333;">“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-style:italic;font-size:15px;line-height:21px;vertical-align:baseline;background:0px 0px;color:#333333;">– Bill Branson, Founder at Strategic Business Architects</p></blockquote><blockquote style="margin:0px;padding:10px 20px 10px 50px;border:0px;font-size:13px;vertical-align:baseline;background-position:0px 0px;position:relative;color:#444444;font-family:Georgia, serif;"><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-style:italic;font-size:15px;line-height:21px;vertical-align:baseline;background:0px 0px;color:#333333;">“As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.”</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-style:italic;font-size:15px;line-height:21px;vertical-align:baseline;background:0px 0px;color:#333333;">– David Coloma, Consulting Area Manager at Cynertia Consulting</p></blockquote><blockquote style="margin:0px;padding:10px 20px 10px 50px;border:0px;font-size:13px;vertical-align:baseline;background-position:0px 0px;position:relative;color:#444444;font-family:Georgia, serif;"><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-style:italic;font-size:15px;line-height:21px;vertical-align:baseline;background:0px 0px;color:#333333;">“FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight – it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”</p><p style="margin:0px 0px 1.2em;padding:0px;border:0px;font-style:italic;font-size:15px;line-height:21px;vertical-align:baseline;background:0px 0px;color:#333333;">– Roderick Cameron, Founding Partner at SGFE Ltd</p></blockquote></div>Urban Pollution & the Rising Business of Air Quality Monitoring System: Industry Insightshttps://globalriskcommunity.com/profiles/blogs/urban-pollution-amp-the-rising-business-of-air-quality-monitoring2020-02-20T10:06:08.000Z2020-02-20T10:06:08.000ZKBV Researchhttps://globalriskcommunity.com/members/KBVResearch<div><p><span>Air quality is a major issue in modern cities due to the major impact of air pollution on the health of people, the global environment, and the economy. According to the World Health Organization, one air quality sensor should be installed for every one square kilometer. Recent studies point to the crucial role of information about pollution on the micro-level, which translates into direct exposure of people to air pollutions.</span></p><p><span>To provide such information, it is necessary to create real-time systems with a large Spatio-temporal resolution, since such information cannot provide conventional measurement systems performing measurements according to the legislative regulations of particular countries. Current researches focus on the concept of next-generation <strong><a href="https://www.kbvresearch.com/air-quality-monitoring-system-market/" target="_blank">air pollution monitoring systems</a></strong> that use new measurement technologies and techniques for communicating and delivering data.</span></p><p style="text-align:center;"><span><a href="{{#staticFileLink}}8028314499,original{{/staticFileLink}}" target="_blank"><img src="{{#staticFileLink}}8028314499,original{{/staticFileLink}}" alt="8028314499?profile=original" /></a></span></p><h2><span>What is an air quality monitoring system?</span></h2><p><span>The Air Quality Monitoring System (AQMS) is a facility for measuring wind speed, direction, other weather parameters, concentrations of air pollutants (such as SO2, NOx, CO, O3, THC, etc.) and particulate matter continuously throughout the year. Mobile AQMS can also be programmed to track multiple sites over a single system. Measured data can be remotely tracked and distributed to local central authorities in various formats. It is also convenient to publish data on the Internet for easy public access to spread awareness of current levels of air pollution. In this way, the public can prohibit outdoor activities and reduce health impacts during heavy days of pollution</span></p><h2><strong><span>Some of the most common pollutants:</span></strong></h2><h3><span>CO:</span></h3><p><span>The main source of carbon monoxide in cities is fossil fuel burning vehicles. Inhaling CO reduces the amount of oxygen that can be delivered by the blood to the organs and can aggravate acne, confusion, and unconsciousness in high concentrations.</span></p><h3><span>NO2:</span></h3><p><span>Nitrogen dioxide reacts to acid rain with oxygen, water, and other contaminants in the atmosphere. Furthermore, the nitrate particles suspended in the air make it bleak, with the chemical being one of the leading causes of smog.</span></p><h3><span>Ozone:</span></h3><p><span>Ground-level Ozone can cause several health problems, including chest pain, coughing, irritation of the throat, and inflammation of the airways. Long-term exposure can lead to lower lung function and damage to lung tissue.</span></p><h3><span>PM 2.5 and PM 10:</span></h3><p><span>Particulate matter in the atmosphere has a diameter of fewer than 2.5 micrometers and 10 micrometers respectively. In comparison, human hair has a diameter of 50-70 micrometers. Such particles can trigger short-term irritation of the eyes, nose, throat, and lung while clinical studies have linked long-term exposure to increased respiratory and cardiovascular diseases and death.</span></p><h2><span>The role of air quality monitoring system industry players in addressing pollution emergencies</span></h2><p><span>Emerson Electric Co., an American multinational corporation, launched ENERGY STAR® certified Sensi™ smart thermostats in October 2019. These thermostats have great compatibility with Awair’s indoor air quality monitoring system. Awair is an indoor air quality monitoring platform, made available through Sensi’s smart home integrations portfolio.</span></p><p><span>In June 2019, Teledyne API, a subsidiary of Teledyne Technologies, introduced Model T640 PM Mass Monitor. It is a novel ambient air quality monitoring system. The instrument can measure fine particulate matter in real-time below 2.5 microns constantly in diameter (PM2.5) continuously. This instrument can be used by air quality monitoring agencies.</span></p><p><span>Thermo Fisher Scientific, an American biotechnology product development company, launched advanced Class II biological safety cabinets (BSCs) in May 2019. These cabinets were designed for user convenience, optimizing contamination prevention, and information protection and management. With the use of the BSC technology, Herasafe and Maxisafe 2030i systems of Thermo Fisher can offer smart self-monitoring safety capabilities. This helps the company to maintain the airflow and keep track of critical conditions automatically.</span></p><h2><span>Where do they lack?</span></h2><p><span>Air quality monitoring system is commonly used throughout the residential, commercial and industrial property. The Government has implemented guidelines for the installation of air quality monitoring in industrial premises. Commercial and residential customers have also started to install these devices to monitor the environmental level of air pollutants. Nevertheless, the high cost of air quality control has impeded the progress of the industry. Continuous technological advances are anticipated over the forecast period to help lower air quality monitor costs.</span></p><h2><span>The big picture</span></h2><p><span>The air quality monitoring market has witnessed rapid growth in recent years. The growth rate of this market has been associated with the increased levels of air pollution and higher awareness of health issues caused by polluted air. The truth is that <strong><a href="https://www.kbvresearch.com/air-quality-monitoring-system-market/">low-cost air quality sensors</a></strong> and highly accurate, controlled sensors have potential in the future of air monitoring. Both of these are positive and negative, yet both play a different and hugely important role in the collective effort of ensuring that the air is safe to breathe for all.</span></p><p><span>Traditionally, the provision of real-time air quality data to the general public has been a challenge, first and foremost as there are often slowdowns in transferring the collected data at monitoring stations to end-user devices. Encouragingly, recent advances in machine learning have substantially reduced the time it takes to convert source data into digestible, consumer-oriented information.</span></p></div>The Relationship and Difference between Probability and Riskhttps://globalriskcommunity.com/profiles/blogs/the-relationship-and-difference-between-probability-and-risk2015-01-23T20:30:00.000Z2015-01-23T20:30:00.000ZProf. Maria Hardy, IMA(ASCP)https://globalriskcommunity.com/members/ProfMariaHardyIMAASCP<div><p><a href="{{#staticFileLink}}8028230091,original{{/staticFileLink}}"><img class="align-full" src="{{#staticFileLink}}8028230091,original{{/staticFileLink}}" width="500" alt="8028230091?profile=original" /></a></p><p></p><p>When we talk about probability and risk as they relate to healthcare they are two terms that often get confused and misused. In November 2014 I attended a National Press Club luncheon featuring Anthony Fauci, M.D., director of the National Institute of Allergy and Infectious Diseases (NIAID).[1] I attended Dr. Fauci’s lecture focused on the Ebola outbreak. As a Laboratorian and Health Educator there were many questions that I wanted to pose and gain knowledge on how the world was responding to the outbreak. The response he gave to a question from the audience regarding how his involvement in the research of AIDS the recent Ebola crisis lead to a great commentary on probability and risk.</p><p><br /> Dr. Fauci stated “The American public understandably, and this not a criticism, really wants to live in a completely a risk free life. Yet every day we live a life that’s full of risks. The issue is the risks have been with us for so long we don’t pay attention to it very much. When a new risk comes in no matter how small that risk is it captures the attention of the public and they worry more about a risk that’s very, very, very low than they do about a risk that they have been living with forever that’s much higher.”</p><p><br /> Dr. Fauci gave example in regard to making policy and recommendations based on the science. He was asked years ago about the risk of contracting HIV/AIDS someone said ‘We should ban gay waiters from waiting in Greenwich Village because the infection rate is so high there and what if a waiter has a cut on their finger and brings to your table your dish of calamari and you happen to have a cut on your finger and pick up the plate that he puts in front of you. Is it possible that you can get HIV?’ Dr. Fauci responded “And the answer is biologically “yeah”, it’s possible but what is the likelihood of it happening? Well, I can say with confidence that the likelihood of it happening in that Greenwich Village restaurant is less than the likelihood of you walking out of the restaurant and getting hit by a bus. So it depends on probability and risk and that’s the thing that we need to keep educating people on and you can’t be 100% risk free.”</p><p><br /> According to the ISO Guide 73-Vocabulary and the ISO 31000 standard section 2.1, risk is defined as “effect of uncertainty on objectives”. [2] It was previously defined as Risk “Combination of the probability of occurrence of harm and the severity of that harm” [ISO/IEC Guide 51:1999, definition 3.2]. ISO defines Probability as the “Extent to which an event is likely to occur.” Degrees of -belief about probability can be chosen as classes or ranks, such as rare/unlikely/moderate/likely/almost certain, or incredible/improbable/remote/occasional/probable/frequent. ISO/IEC GUIDE 73:2002</p><p><br /> So the two terms are always linked but not synonymous or interchangeable. That is the take home message for Risk in Healthcare – you can never be 100% risk free. We manage risk but we cannot control it. We mitigate risk but there will always be a probability that it will occur. Our focus should not only be on reducing risk but also accepting it. In healthcare we must embrace both risk and probability by being prepared. Not only for our practices and organizations, but most importantly our patients.</p><p><br /></p><div id="om-cyleseddvagssksuvew3-holder"></div>References:<br />1. NPC Luncheon with Dr. Anthony Fauci <a href="http://www.press.org/news-multimedia/videos/npc-luncheon-dr-anthony-fauci">http://www.press.org/news-multimedia/videos/npc-luncheon-dr-anthony-fauci</a> <br />2. ISO 31000 - Risk management <a href="http://www.iso.org/iso/home/standards/iso31000.htm">http://www.iso.org/iso/home/standards/iso31000.htm</a><p></p><p></p><p>Prof. Maria S. Hardy, IMA(ASCP), AHI & CLC(AMT) is CEO of Medical, Laboratory & Technology Consultants in Washington, DC. Being a Global Leader in Scientific and Technical Advising, MLT Consultants has extensive experience in working with International/US government, public and private sectors. MLT Consultants offers Accredited Continuing Medical Education, Medical Facility and Laboratory Accreditation & Compliance Technical Support and Capacity Building Scientific and Technical Advising. Please contact at info@mltconsultants.com LinkedIn/Facebook/Twitter @MLTCONSULTANTS</p></div>Risk Management in Healthcarehttps://globalriskcommunity.com/profiles/blogs/risk-management-in-healthcare2015-01-07T19:48:57.000Z2015-01-07T19:48:57.000ZProf. Maria Hardy, IMA(ASCP)https://globalriskcommunity.com/members/ProfMariaHardyIMAASCP<div><p><a target="_blank" href="http://www.mltconsultants.com"><img class="align-center" src="{{#staticFileLink}}8028230091,original{{/staticFileLink}}" height="228" width="323" alt="8028230091?profile=original" /></a>Most people think of Risk Management in terms of finance, insurance and business. In healthcare, Risk Management seeks out errors with the potential to cause human harm. Risk Management consists of identifying, evaluating, and controlling the risk of these potential errors through a variety of quality control measures that become your medical practices’ Quality Control Plan. Risk Management is defined in ISO 14971 as the “systematic application of management policies, procedures, and practices to the tasks of analyzing, evaluating, controlling and monitoring risk.”1</p><p>For some healthcare professionals this is a well-known and commonly used process; however for others this may<br /> be an area where knowledge is limited. The more you know about the practices in your facility, the more you can ensure they are compliant with all applicable regulations. However, you are not expected to do it alone. The role of Risk Management professionals in Healthcare is mainly one of monitoring to ensure compliance,<br /> but should also include education.</p><p>Education is the best way to ensure compliance, and reduce potential sources of error. Maya Angelou often quoted “when you know better, do better.”2 Personnel who write, follow, monitor, and enforce the policies and procedures in your facility are not only those who are involved in direct patient interactions but also those involved in the collection, storage, and transport of patient specimens to those who process claims, enter data and update medical records. These are the key people to engage in Risk Management activities. There must be a clear and open dialogue regarding not only who does what but why they are doing it that way. By taking the steps necessary to ensure that all parts of your facility or practice are running smoothly, you can help ensure patient safety and excellence in this critical component of patient care.</p><p><em><strong>What areas of challenge have you faced in terms of Risk Management monitoring, enforcement or compliance?</strong></em></p><p>We trust that this blog will be a resource to you and if you have any questions or would like to leave a comment we will most certainly try to respond and provide helpful suggestions to improve patient care. For more specific inquiries please contact us at info@mltconsultants.com and follow us on LinkedIn/Facebook/Twitter @MLTCONSULTANTS</p><p></p><p>References:</p><p>1. International Standards Organization. Medical devices – Application of risk management to medical devices. ISO 14971. Geneva, Switzerland: International Organization for Standardization; 2007<br /> 2. <a href="http://www.eonline.com/news/546030/maya-angelou-s-15-best-quotes-regarding-love-forgiveness-humility-and-survival">http://www.eonline.com/news/546030/maya-angelou-s-15-best-quotes-regarding-love-forgiveness-humility-and-survival</a></p></div>Getting the house in order for a post RDR worldhttps://globalriskcommunity.com/profiles/blogs/getting-the-house-in-order-for-a-post-rdr-world2011-12-14T11:07:50.000Z2011-12-14T11:07:50.000ZRonan Brennanhttps://globalriskcommunity.com/members/RonanBrennan<div><p>2012 is set to be a dynamic year in the financial advisory sector. With the <a href="http://www.fsa.gov.uk/pages/About/What/rdr/index.shtml">FSA’s Retail Distribution Review (RDR)</a> coming into effect in December 2012, IFAs have to up the ante with standardised professional qualifications and increased transparency of charges and services. With time running out to comply, it is not a matter of when, but how to prepare for RDR. In fact I recently attended <a href="http://www.wbresearch.com/fimaeurope/home.aspx">FIMA Europe</a> in London which echoed this trend. Post-RDR preparation is the number one priority for internal investment within asset management and advisory firms next year.</p><p> </p><p>The requirements of RDR have also meant that companies’ sales and marketing teams are demanding precise and timely investment product information. This includes having in depth information at their fingertips to develop slicker, more accurate and timely product sheets. This helps to build the level of investor trust and enhance client service by ensuring consistency of information across a company’s website and its product data sheets.</p><p> </p><p>Therefore arming financial advisers and asset managers with real-time accessibility of fund product information is the first step needed to demonstrate the necessary transparency required for RDR. Putting in place a platform that gives investors a current product view is essential. This platform must be able to pull up-to-date, accurate data immediately. It also lays the groundwork to build the level of client trust. The companies that have invested in intelligent communications infrastructure and platforms will be the ones better positioned to stay ahead in a highly competitive market.</p><p> </p><p>Ultimately, taking a forward-looking approach to RDR will be paramount. My advice? Putting the right risk mitigation and regulatory compliance tools in place ensures effective data governance, builds client trust and importantly helps maintain a competitive edge.</p></div>