Every process has inherent risks that can result in unintended consequences. Understanding the source of risks, as well as the reliability of a process, allows an organization to plan for and ideally prevent negative outcomes. In turn, risk management ultimately leads to more consistent processes.
So how do organizations manage risks? Risk and process analysis can help organizations understand what could go wrong and what to do about it. By identifying and assessing factors that may jeopardize success or undermine a strategic goal, an organization can design processes to manage those risks. This article explains how you can use APQC’s Process Classification Framework (PCF)® to help you do just that.