CRE BoK and Risk Management

The New ASQ CRE BoK Group: Risk Managment

The 2018 ASQ CRE Body of Knowledge has the new top level section titled II. Risk Management.

A few of the topics, 6 of the 9, are the same or similar to topics in the previous CRE BoK. There are three new topics that extend the reliability engineers need to know, understand, and use risk management tools.

Overall the new section of Risk Management has three groups of topics:

A. Identification

B. Analysis

C. Mitigation

Let’s take a quick look at the details in this new section and highlight the changes and new elements.

Risk Identification

Risk management techniques topic is new. Building on the suite of tools and approaches to identifying risks in ISO standards and literature, we should be familiar a host of ways to identify and manage risks. The inclusion of the phrase, risk management framework, implies we’ll are familiar with the various available frameworks.

There are frameworks specific to industries and others that are more theoretical than practical. The basic ability to list risks that may impact reliability performance and safety are not new. We often have to consider risks involving technical, scheduling and financial concerns. The basic concept is not new, other than understanding a risk management framework.