Comprehensive Risk Assessment Implementation

A risk assessment project was done for a IT services provider. The company wanted to understand the risks involved in all their processes and also wanted to have a mitigation plan for them. Project involved creating detailed process maps followed by FMEA for all the processes. Basis the RPN calculated a comprehensive list of solutions were devised to systematically reduce the risks in the processes. The project resulted in a potential saving of INR 50 lacs in terms of penalties and fines.