Muhammad Lutafullah
NEXT Pharmaceutical Products (Pvt.) Ltd. Pakistan
Title: Cause and Effect Analysis
Biography
Biography: Muhammad Lutafullah
Abstract
The risk has been and will remain one of the main problems any company is put to trial during its activity, regardless of its type. Whether we are talking about a financial activity, a production activity, a management activity, etc ... the risk is a matter which should not be neglected. The motivation behind a detailed analysis of risks lies in the complexity and their multiple effects, in the need for security, in the desire for a safe development of the activity of the company, a development of safe and cost-effective projects, the implementation of performance and safe technologies etc.
Depending on the field of activity, the risk is dealt with in different ways. Whether we are talking about a transaction, a project, an organization, an asset, a monetary flow, the risk is composed of two elements: the probability of occurring of an event that could affect one of the units of analysis mentioned above and the effect that this has on the unit of analysis. Therefore, the manifestation of risk leads the analysis to a difficult situation to which the management of the organization is supposed to find viable solutions for surpassing.
In the specialized literature there many methods and techniques in managing the emergence and the manifestation of risks, and one of these is the fishbone technique.
Researches in the field have led to the gathering and analysis of items of information regarding this analytical tool. The results of the theoretical and practical research have resulted in a multitude of studies and research papers on such analysis tools that help improve understanding and identify the underlying causes of certain problems.
The purpose of this presentation is to achieve a representation of the relationships between the possible effects and possible causes that can influence a process, a phenomenon, an action.