Revised Guidance Highlights the Crucial Role of Engineers, Technicians, and Quality Management Professionals in Navigating Risk, Prioritising Innovation and Societal Benefits.
The UK’s Engineering Council has recently released updated guidance that sheds light on the pivotal role of professional engineers and technicians, including quality management professionals, in effectively managing risk within their respective fields.
Navigating Risk in Engineering: A Delicate Balance
The Question of Risk Appetite
The working group responsible for the guidance revision delved into fundamental questions about risk management. Professionals are urged to consider the acceptable level of risk in their pursuits, defined as 'risk appetite.' While some engineering activities demand a zero-tolerance approach to risk, the guidance emphasises avoiding excessive risk aversion to foster technological progress and reap potential benefits for society.
Innovation vs. Risk Aversion
The guidance challenges the misconception that risk management stifles innovation. Instead, it encourages a proactive approach that acknowledges the possibility of failure, especially in endeavours involving experimentation with multiple approaches. This perspective underscores the necessity of understanding risk appetite within the specific context of a project.
The Evolving Landscape: A Decade-Long Update
Revisions and Alignments
Published in October 2021, this marks the first revision of the Engineering Council’s Guidance on Risk in a decade. Notably, the updated guidance closely aligns with the ISO 31000 standard on risk management, acknowledging both positive and negative consequences of uncertainty. The involvement of quality professionals, exemplified by Amanda McKay FCQI CQP, Chair of the CQI’s Board of Trustees, reinforces the interdisciplinary approach.
Quality Professional's Mindset
The guidance underscores the role of quality professionals in understanding risk appetite, stressing that an overly risk-averse approach may clash with organisational goals. Quality professionals, as stewards of an organisation's quality system, should align their strategies with the overall organisational objectives and contribute significantly to the evaluation of risk as a fundamental aspect.
Guiding Principles for Risk Management
Key Principles Outlined
The revised guidance outlines six principles to guide professional engineers, technicians, and quality management professionals in navigating and managing risks effectively:
1. Apply professional and responsible judgment and take a leadership role.
2. Adopt a systematic, broad, and holistic approach to risk identification, assessment, management, and review.
3. Comply with legislation and codes, while promoting further improvements.
4. Ensure good contextual communication with others involved.
5. Ensure sustainable systems for oversight and scrutiny are in place.
6. Contribute to public awareness of risk.
These principles aim to motivate professionals in identifying, assessing, managing, and communicating risks, emphasising the societal responsibilities inherent in their roles.
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