Why plant engineers should expect the worst

11/14/2010 | Harvard Business Review online

Microchip manufacturers know that natural, random fluctuations will render 5% of their chips useless -- and while they can't predict which chips will fail, by quantifying the risk they can plan accordingly. Other plant maintenance professionals should also plan for uncertainty, writes Ndubuisi Ekekwe, quantifying risks and ensuring that worst-case scenarios are baked into their management strategies. "Be like the Chileans who acknowledged the possibility of earthquakes and built better houses," Ekekwe advises.

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