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(RISK-2130) An Introduction to 77R‐15: Quality Control/Quality Assurance for Risk Management

Primary Author: David C. Brady, P.Eng. DRMP
Co-Author(s): Dr. Alexia A. Nalewaik, CCP FAACE

Audience Focus: Advanced
Application Type: Practice
Venue: 2016 AACE International Annual Meeting, Toronto, ON, Canada

Abstract: Have you ever had senior management ask questions similar to How do I know our risk program is working? Is it improving? How have you answered?

The new Recommend Practice 77R-15 is guided by the view of quality improvement as documented in TCM Section 11.4: In Jurans view, planning and quality management must be guided by a breakthrough way of thinking. Quality improvement should emphasize not just traditional continuous improvement, but also breakthrough changes, which are a dynamic, decisive movement to new, higher levels of performance.

This presentation is a synopsis of how Risk Management QA/QC is this type of breakthrough thinking. 77R-15 can be used on your project or program, regardless of the size and complexity, by providing QA/QC ideas to allow you to develop your own Risk QA/QC program.

Ideally, the risk management processes provide opportunities for all stakeholders and contracting parties to work together and manage risk (i.e. threats or opportunities) in a way that increases the probability of success of the program or project. 77R-15 is one of those processes.