A full risk assessment using the Project Risk Failure mode and Effect Analysis (RFMEA) has been previously carried out for Phanous Research and Innovation Centre and the results are documented here.
In RFMEA analysis, Risk Probability (RP) is the probability of probability of failure occurrence. It is estimated on a 5 tier system:
THe Risk Impact (RI) is the impact or severity of the failure. It is estimated on a 5 tier system:
The Risk Score (RS) is RP multiplied by RI, and the Risk Priority Number (RPN) is is the product of RS and the Risk Detection Score (RD). RD is measured from 1 to 10 and indicated how easy it is not detect the risk in sufficient time to plan for contingencies.
The results of the RFMEA was that of the identified risks associated with the management of Phanous Research and Innovation Centre, there are four which take priority and must be effectively mitigated. For each of these risks we discuss:
We would not be able to fully protect our intellectual property. The risk arises because the national and international patent systems are not linked and do not recognize each other. Iran is not a signatory of the international copyright laws and vice versa.
The results of the RFMEA analysis for this risk are as follows:
| Index | Value |
|---|---|
| Risk Probability | 7 |
| Risk Impact | 7 |
| Risk Score | 49 |
| Risk Priority Number | 441 |
The highly collaborative and dynamic environment we wish to create at Phanous Research and Innovation Centre carries with it the risk that critical holding commercial data will leak outside. Leaked data will put at risk our commercial interests and might lead to litigation’s.
The results of the RFMEA analysis for this risk are as follows:
| Index | Value |
|---|---|
| Risk Probability | 9 |
| Risk Impact | 7 |
| Risk Score | 63 |
| Risk Priority Number | 451 |
This is the risk that over time, Phanous misaligns with the holding. Misalignment might manifest in several ways including the projects, people and processes. It will ultimately lead to seizure of the value creation cycle and stops business impact.
The results of the RFMEA analysis for this risk are as follows:
| Index | Value |
|---|---|
| Risk Probability | 7 |
| Risk Impact | 9 |
| Risk Score | 63 |
| Risk Priority Number | 441 |
Hezardastan holding has had open policy towards staff rotation and employees are free to make lateral career path changes. At the same time, Phanous Research and Innovation Centre will represent an attractive opportunity for senior employees who are looking for new challenges, to do research, or to build their resume and publish papers. It is likely that many of these people are currently playing critical roles in the holding side and an uncontrolled reverse osmosis of people from the holding to Phanous will lead to severe distruptions. Ideally, we want to achieve the opposite of this, in which raw talent is hunted by Phanous Research and Innovation Centre, trained and then some of them guided towards the product pipelines at the business side.
The results of the original RFMEA analysis for this risk are as follows:
| Index | Value |
|---|---|
| Risk Probability | 5 |
| Risk Impact | 7 |
| Risk Score | 35 |
| Risk Priority Number | 215 |
Further assessment indicates that we might have underestimated this risk in the RFMEA analysis. In addition some of the senior people at the core business side believe that the RP and RI are actually higher than what we have provisioned for.