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Must-Know Risk Facts for Quality Professionals

Intelligent business decisions result when you calculate probabilities

Greg Hutchins
Tue, 05/14/2013 - 11:22
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In Against the Gods: The Remarkable Story of Risk (Wiley, 1998), Peter Bernstein says the mastery of risk is the foundation of modern life and is what divides modern from ancient times. By consciously or unconsciously calculating probabilities, quality professionals make intelligent decisions about business processes.

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Comments

Submitted by umberto mario tunesi on Tue, 05/21/2013 - 21:11

Nice charting

Hi Greg, well said. However, some Mr. Taguchi developed a quality function loss theory, that seems more exhaustive to me when interpreting quality risks. As a quality professional myself, I'm well aware that quality professionals' vision is warped by conformity, instead of focusing on risk - though, as living creatures, we are much more concerned with risk than with quality. I do really wish the up-coming ISO 9001 will put aside the sin-tasting concept of conformity and be more practical on risk factors. Thank you.

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