Risk management - part 4

Within the FMEA method, the calculation and evaluation of the RPN (Risk Priority Number) is crucial. Are you able to check if the following statements are true (or false)?

• RPN helps the responsible risk management team to prioritize risks.

• RPN is calculated by multiplying Severity (S), Occurrence (O), and Detection (D).

• Severity (S): A high severity ranking indicates severe risk.

• Occurrence (O): A low occurrence rank reflects high failure occurrence potential.

• Detection (D): A high detection rank reflects high detection capability.

• Detection (D): A high detection rank reflects low detection capability.

• Occurrence (O): A high occurrence rank reflects high failure occurrence potential.

• Severity (S): A low severity ranking indicates severe risk.

• The maximum value of RPN is 10x10x10 = 1000.