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
 
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