15/11/2018
Sense of management lies in a permanent decision-making, wherein every decision is characterized by taking (and even facing) risks: “blindfold” ones if missed, or well expected – foreseen, analyzed, evaluated, and prepared for.
The purpose of this paper is to review, analyze and compare the popular and more-or-less standard Risk and Failure Analysis Instruments (RFAI), carefully reflect and explore their typical usage, pitfalls, problems and possible remedies.
The paper starts with necessary definitions and then presents a multidimensional toolbar of well-known and newly introduced RFAIs, possible mistakes and failures in those tools’ application.