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QICID: 21143
Title: Using FMEA to Assess Outsourcing Risk
Copyright: ASQ
Author: Welborn, Cliff
Organization:
Subject: Failure Mode Effects Analysis (FMEA,) Outsourcing, Risk management, Priority number (RPN,) Pareto distribution;
Series: Quality Progress, Vol. 40, No. 8, August 2007, pp. 17-21
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Abstract: Although outsourcing is a growing trend among U.S. businesses, there are risks involved and not everyone benefits from such arrangements. The advantages of outsourcing must be weighed against risks and go beyond cost savings. Without a systematic analysis technique, much can go wrong. A modified form of failure mode effects analysis (FEMA), a tool used to collect information related to risk management decisions, can be used to evaluate the risk of outsourcing options. Risks are evaluated in terms of opportunity, probability and severity, and can be grouped into intuitive categories.
Number of pages: 5
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