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Application Of Fishbone Diagram To Determine The Risk Of An Event With Multiple Causes

Author

Listed:
  • Gheorghe ILIE

    () (UTI Grup SRL, Soseaua Oltenitei no.107A, Bucharest, Romania)

  • Carmen Nadia CIOCOIU

    () (Academy of Economic Studies, Piata Romana, 6, Bucharest, Romania)

Abstract

Fishbone diagram (also known as Ishikawa diagram) was created with the goal of identifying and grouping the causes which generate a quality problem. Gradually, the method has been used also to group in categories the causes of other types of problems which an organization confronts with. This made Fishbone diagram become a very useful instrument in risk identification stage. The article proposes to extend the applicability of the method by including in the analysis the probabilities and the impact which allow determining the risk score for each category of causes, but also, of the global risk. The practical application is realized to analyze the risk “loosing specialists”.

Suggested Citation

  • Gheorghe ILIE & Carmen Nadia CIOCOIU, 2010. "Application Of Fishbone Diagram To Determine The Risk Of An Event With Multiple Causes," Management Research and Practice, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 2(1), pages 1-20, March.
  • Handle: RePEc:rom:mrpase:v:2:y:2010:i:1:p:1-20
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    Keywords

    Fishbone diagram; global risk; probability; impact.;

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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