ERM Risk Identification Techniques

(Given the extent of ERM risks, here are various techniques that can be used individually or in combined format).

Qualitative Techniques

• Interview
• Meetings
• Brainstorm
• Brain-writing Pool
• Reverse Brainstorming
• Benchmarking
• Round Robin Brainstorming
• Delphi Method
• Activity analysis
• Plan-do-study-act activity
• Process hazards identification
• Hazard and operability study (HAZOP)
• What if? analysis
• Gap Analysis
• Stimulus Analysis
• Concept Hazard Analysis (CHA)
• Pre-HAZOP
• Content Analysis
• Concept Safety Review
• Preliminary Hazard Analysis (PHA)
• Standards/Codes of practice/Literature review
• Functional Integrated Hazard Identification (FIHI)
• Checklists
• Activity cost matrix
• Critical Examination of System Safety (CEX)
• Matrices
• Inherent Hazard Analysis
• Hardware hazards identification
• Five Whys
• Wildest Idea Thinking
• Safety audit
• Affinity Diagram
• Failure Mode and Effect Analysis (FMEA)
• Functional FMEA
• Failure Modes, Effects, and Criticality Analysis (FMECA)
• Maintenance and Operability study (MOp)
• Work Flow Analysis
• Maintenance Analysis
• Attribute Listing
• Sneak Analysis
• Observation
• Vulnerability Assessment
• Activity Network Diagram
• SWOT
• Balance Sheet Analysis
• Control hazards identification
• Quality Review
• Contract Review
• Inspection
• Quality Audit
• Structured What-If Technique (SWIFT)
• Quality Testing
• Incident Analysis
• Panel Debate
• Computer HAZOP (CHAZOP)
• Analogy and Metaphor
• Structured methods
• Circle of Risk
• Phillips 66 Buzz Session
• Crawford Slip
• Nominal Group Technique
• Circles of Risk Influence
• Customer Acquisition-Defection Matrix
• Specification language
• Customer Perception and Satisfaction Analyses
• Structured Analysis and Design Techniques (SADT)
• State-transition Diagrams
• Petri-nets
• Cross-Functional Matrix
• Critical Dialogue
• Comparative Assessment Matrix
• Checksheet
• GRAphe de Commande Etat-Transition(GRAFCET)
• Human hazards identification
• Risk Circumrelation
• Task Analysis
• Layout Diagram
• Venn Diagram
• Relationship Map
• Force Field Analysis
• Customer Satisfaction Analysis
• Hierarchical Task Analysis (HTA)
• Quality Tracking
• Process Flowchart
• Process Mapping
• Taxonomy Structure
• Checkerboard Diagram

Semi Quantitative Techniques

• Different types of Survey
• Fault Tree Analysis (FTA)
• Cause-Consequence Analysis (CCA)
• Method Organized Systematic Analysis of Risk (MOSAR)
• Goal Oriented Failure Analysis (GOFA)
• Dimensions Cube
• Human Reliability Analysis
• Action Error Analysis (AEA)
• Concentration Diagram
• Predictive Human Error Analysis (PHEA)
• Pattern search method
• Focus Group
• Hierarchical Holographic modeling
• Histogram
• Box Plot
• Run Chart
• Control Chart
• Polygon Trend Comparison
• Dendrogram
• Descriptive Statistics
• Data and Text Mining

Quantitative Techniques

• Reliability Block Diagram
• Structural Reliability Analysis
• DEFI method
• Multi-Var Chart
• Frequency Distribution
• Scatter plot
• Pareto plot
• Correlation
• Covariance
• Archimedean Bivariate Copula
• First order or Gaussian Approximation
• Nominal/Local Range Sensitivity
• Probabilistic Sensitivity Analysis
• Rayleigh Model
• Principal Components
• Factor Analysis and Factor Loadings
• Stepwise Regression