Classic and modern risk management

Since all activities of an organization are associated with risks, risk management is considered an important part of any business. At the latest since the introduction of the "KonTraG", a law which obliges companies to provide evidence of systematic risk management, and the publication of ISO 31000, the necessity of risk management has become more and more conscious to companies.

Many manufacturing companies today have to provide increasingly complex and often personalized products of outstanding quality and shorter delivery times in order to survive in global competition. With the advent of digitization and networking in production, "Smart Manufacturing" offers an answer to this challenge. However, the complexity within the production environment continues to grow and this in turn is accompanied by increased requirements for risk management. Therefore, a preventive, efficient and effective risk management is needed, which is suitable for complex processes and systems and uses the possibilities of digitization and networking.

Risk management in Research Fab Battery Cells (FFB)

The Fraunhofer IPT leads risk management projects for research and industry partners to support the introduction of novel technologies and to promote the success of complex and ambitious large-scale projects. We are providing particularly intensive support for the risk management of the development and commissioning of the FFB in Münster, because the development of this technological pioneering project with its variety of innovations is associated with very different challenges. These range from the evaluation of completely new technologies to the design of buildings and facilities for the battery cell production of the future.

Underwater risk management: Identifying and preventing hazards

Due to the difficult conditions in the subsea environment, errors in the operation of so-called subsea systems, for example subsea compressors, can have devastating effects on the environment. For companies, this often means high economic damage and loss of reputation. Risk management can help to understand potential problems already during development and to initiate preventive measures. The Fraunhofer IPT has extensive experience in the assessment and risk management of subsea compressors and pipelines. We have developed efficient and effective risk management strategies for this purpose, based on scientific research results combined with years of practical experience from our projects with practical industrial use cases.

Risk management in turbomachinery engineering

Turbomachinery is a technologically complex component designed to operate close to the load limit. They are part of very different industrial applications - from the energy sector to aviation. A risk assessment helps to identify risks, hazards and deviations at an early stage in the development of turbomachinery and its components. In this way, quality-improving measures can be initiated at an early stage and projects can be completed within the planned budget and timeframe. To this end, the Fraunhofer IPT has developed a dedicated risk assessment method that takes into account the special features of turbomachinery manufacturing and repair and ensures reliable risk management for these often safety-critical components.

The implementation of classical methods allows an efficient and effective management of risks. This includes raising risk awareness, identifying risks at an early stage and defining and implementing the appropriate measures to manage the risks. The Fraunhofer IPT has many years of experience with proven risk management instruments and methods and has also developed its own methods. For implementation in companies, it has proven to be a good idea to use moderators who accompany risk management processes from integration into existing structures to risk analysis and documentation. They bring technical expertise and experience and also support the company in the operation of holistic solutions.

In industrial practice, qualitative or semi-quantitative methods are often used as part of risk management. Modern risk management enables quantitative risk aggregation. It is characterized by fact-based elements and functional cause-and-effect relationships with which opportunities and risks are viewed holistically. This enables companies to optimally counter future events at an early stage - regardless of whether they involve production processes, procurement processes or project management in production. Data-based approaches make it possible to quantify risks correctly and to make well-founded decisions based on the information gained in order to act preventively.

Profit from data

A wide variety of data can be obtained within the company that can be of importance for risk management. With suitable tools, this data can be used to identify, analyze and evaluate risks. The selection and consolidation of the relevant data is the first step in this process. In modern risk management, the integration of data from the corporate management level and the production level serves this purpose. With its expertise in both data analytics and risk management, the Fraunhofer IPT supports companies in precisely these critical challenges of data selection and integration.

Our range of services

• Risk management and risk analysis for procurement, production and project management
• Risk management according to ISO 31000
• Quantitative, data-based methods for risk management