Risk Management

Identify product issues before they become a problem

The failure to adequately evaluate, prevent and minimize the risk of hazards and harm caused by a company’s product can ultimately lead to serious injury, or even death, and catastrophic consequences for the company.

The Risk Management capability in Minerva PLM, powered by Aras provides the functionality you need to manage risk as part of the product development lifecycle.

Be prepared

It is imperative for companies to be able to effectively identify all the risks involved in using the product and have done their utmost to mitigate those risks before the product enters the market.

Risk Management in Minerva PLM enables companies to identify, evaluate, analyze, assess, and mitigate potential product issues in a structured workflow. 

Risk Management contains the following elements:

• Risk Management Plan
• Functional Analysis
• Risk Management Assessment
• Risk Management Report

The structure in Risk Management follows the V-model development process which enables companies to:

• Identify hazards and risk factors that can potentially cause harm during the whole product lifecycle
• Analyze and evaluate the risks associated with hazards
• Determine ways to eliminate issues, and if an issue cannot be eliminated, then determine a way to limit the risk of the product issue

Key benefits

• Improve system reliability, decreased maintenance and products with predicted cost of ownership

• Automatically generate and map dependencies from product architectures

• Enables you to design products for support rather than being dependent on feedback from the field.