Operation Risk Management
Preview and background information that will guide your answer
Before this assignment, I explored production planning, control and scheduling methods, including MRP alternatives. As we compared these various methods, you likely noticed that some methods have inherent risks for certain types of organizations and/or operational sectors. Moreover, these risks can lead to operations management failures, but such is only the case if said risks are not effectively managed, and part of this effectiveness is knowing the reasons for potential failure.
At first glance, many might say it is better to avoid these risks altogether, and sometimes this is true, but there are some risks worth taking. The question is how does one decide which risks are worth taking and which are not? In operations management, managers must continually assess risks in order to answer this question and look for ways to reduce the negative effects of potential failures.
Question: In 400 to 500 wards, examine how to avoid and alleviate failure in operations management under the following heading
- The most common reasons for operations management failure as necessary.
- Methods for successfully decreasing the chances of failure.
- Use a practical example from your experience or find appropriate case from external sources e.g Mark Zuckerberg.
Note: All reference should be Harvard referencing and cited in the body of the write up.