Explore the art of balancing change and risk for business success in our MBRM lecture. Dive into risk assessments, failure model creation, and innovative solutions.
Ensuring the success of a business involves a delicate equilibrium between two contrasting concepts: process sustainability and process development. Both sustainability and development are inherently tied to change, and any change introduces an element of risk. However, a thriving business cannot evade the need for change. The ideal approach is to conduct a comprehensive Risk Assessment of any proposed change. We introduce the concept of Risk Assessment and Risk Management (MBRM), developed by PRIZ Guru Inc. This concept is rooted in problem-solving analysis and aims to implement changes with minimal risk to existing processes. In this lecture, you will delve into the principles and practices of MBRM. You will gain insight into the art of conducting risk assessments, creating models for potential failures, and generating ideas and solutions to mitigate the risk of failure.