Risk Management Applied to Organizational Strategy – A Case Study Applied to a Continuous Billet Forming Machine

Abstract

Risk management involves a set of structured methods in order to face adverse risks in a planned and systemic way. In general, risk management adds value to the processes and their practices are being consolidated by organizations, no longer an issue only addressed by insurance companies and financial institutions. Nowadays, with the growing evolution of the different aspects that make up an organization, the systemic approach of these factors is considered as the path to reduce and mitigate risks to acceptable levels, raising the equipment safety to admissible parameters. This monograph presents a study of operational risk management through a method called What if, which can be applied as a guiding guide in the identification, analysis and management of risks. Bringing as a result a clear and objective communication about the necessary actions to make them risks acceptable to the organization.