How can you prioritize process change risks and opportunities?

I would focus on the important ones and looking to resolve the root cause, leaving the mor complex to be resolved later, regardless their urgent status, bear in mind that when you're working in urgent or under pressure issues, mistakes come by the main gate.

1. Confirm scope of potential candidate processes to be evaluated. 2. Understand value and size of each process (level of demand, number of steps, resources, errors/ re-work, criticality to deliver customer value, etc.). 3. Run targeted Voice of the customer, process, employee, regulator, sessions to collect additional information. I've applied this with a global bank to identify, size and prioritise process changes aiming to generate efficiencies. Week 1: run several Voice of the X sessions with multiple processes stakeholders to define list of potential candidates. Week 2: worked with sponsor and relevant process owners to flesh out findings from previous week and agree on prioritisation using the ease / benefit matrix model.

Draft a list of potential or possible risks in each bucket - People, Process and Technology. This analysis had to be an exhaustive one which should cover all areas of the product or process.

In my experience this will vary pending specific objectives for each project, however there are some typical categorisation factors that I’ve used in the past: - Volume of demand - Level of impact in organisation - Savings from changes - Complexity of changes - Level of automation potential Of course, some factors might conflict with others, so using a decision-making method such as Multivoting will give sponsor and other key decision-making stakeholders the opportunity to express their views and then have an open debate on the results to get the best commitment possible.

Once the Processes are identified, categorize them as High/Medium/Low and give a weightage to each category using the FMEA approach.

I find these 4 quantitative tools effective: Cost-Benefit analysis: clear financial insights to facilitate prioritisation (ROI, savings, etc.). Tends not to account for non-financial benefits and qualitative factors. SWOT analysis: holistic view of the process area. Highly subjective, lacks precise quantification, and has potential for bias in assessment. Risk matrices: visualise risks, e.g. FMEA, assesses impact and probability, and aids risk mitigation. Other opportunities might be overlooked. Balanced Scorecard: aligns process changes with strategic objectives, considers multiple dimensions, gives balanced view between quantitative and qualitative factors. Requires thorough data collection and may be time-intensive to implement.

After the risks are categorized as H/M/L, classify them further with Severity, Occurrence and Detection and again give them weightage. Now put up a formula via RPN - Risk Priority Number which is a product of weightage of S * O * D.

A bit of a duplication between this and the previous point, as some of the tools I mentioned there often have a level of prioritisation at the end. Other I've used before: - Eisenhower Matrix: prioritises based on urgency and importance. Has the potential for some ambiguity in categorisation as it does not consider other factors. - Weighted Scoring Model: highly customisable tool that can consider multiple criteria and provide a quantitative basis for ranking. Requires previous data collection and analysis. - Cost-Benefit Prioritisation: a follow-through from Cost-Benefit analysis aligning with financial objectives, emphasising ROI to support data-driven decisions. Financial focused only, and may not capture all considerations.

Based on the RPN obtained, identify and document the contingency plan for each risk with a priority number assigned to each risk.

When designing processes from scratch I suggest using the Design for Six Sigma (DFSS) approach, as it can deliver significant value: 1. Determine customer needs using Voice of the Customer (VOC) 2. Translate customer needs into product and process requirements using Quality Function Deployment (QFD) 3. Mistake-proof the process using Failure Modes and Effects Analysis (FMEA) 4. Design, optimise and test the process using Design of Experiments (DOE) and Critical to Quality Measures (CTQs) 5. Develop a Control Plan for monitoring ongoing performance When re-design or improving processes I often use Lean Process Improvement as it helps to maximise value and deliver results faster.

Consider the complete RISK assessment analysis via FMEA tool as part of DMAIC Approach (Six Sigma). This tool effectively helps us understand and prioritize the risks for any situation.