Root Cause Analysis (RCA) can be an effective tool to forecast or predict probable events before they occur.
Typically performed after an event has occurred, an RCA answers why and how it happened. The learnings are then used to ensure processes are put in place to limit the probability of future occurrences.
Dynamic Risk’s team has many years of experience conducting RCAs. We employ many types of tools, processes and philosophies to fully understand an event’s true cause, but our process typically involves:
- Understanding the problem including what happened, where, when, why and its impact
- Identifying possible causes
- Collecting and analyzing data
- Identifying possible solutions to limit future occurrences
- Implementing corrective change across the organization
Deliverables and benefits include:
- Uncover the cause of an event as soon as possible and put actions in place to limit similar occurrences
- Identify current and future needs for organizational improvement
- Limit the severity and impact of the incident
- Avoid regulatory fines
- Limit impacts on your organization’s reputation.