Risk Management Exercise

2. Our products are most frequently used in the __________ industry, in cooling, in fuel and in water supply and drain systems. They are critical to the proper functioning of those systems. Shipping faulty product could have detrimental results, since it will most likely eventually be installed on an aircraft.
5. When Hydraflow delivers late to a customer, our scorecards take a hit. Depending on the customer’s rating system, it could be a single hit, or a hit for each day we are late. When it comes to __________, we typically end up getting a double hit. How? Well, ultimately, if we ship a bad part, not only is this a quality issue, but the delivery is not received in, and now Hydraflow is also late.

1. The ___________ Maturity Model Certification (CMMC) model consists of 17 domains, similar to the NIST SP 800-171 control families. It is designed to certify that contractors and suppliers have the controls in place to protect sensitive data.
3. Hydraflow’s Production Control team manages ___________ risk through the use of Tableau. The dashboard has allowed the team to create a live dashboard regarding the machine shop vendors. The information that is on the dashboard assists Production Control when sending out jobs to our machine shop vendors making sure the planners are level loading the workload by purchase order due dates and by vendor’s machines. Using the information that is shown on the dashboard will help reduce the risk of late deliveries from the machine shop vendors based on the machine shop’s capacity and capabilities.
4. Risk management and quality improvement systems are both directed to providing a structured framework for identification, analysis, treatment / corrective action, monitoring and review of risks, problems and/or opportunities. ___________ boards are amongst the tools that Hydraflow utilizes as a means of process improvement as well as Risk Management.