Root Cause Analysis (RCA)  is  increasingly found to be integrated into financial regulator standards. A firms attitude towards applying an effective Root Cause Analysis process is often regarded as an indicator of best practice within a business including whether there is an appetite from senior management to acknowledge and address problems and issues within that business.  Key to working towards best practice and gaining from the potential business improvement opportunities is understanding the components and skills of an effective RCA process.

The Sologic RCA Process

The five step Sologic Root Cause Analysis process draws on the most advanced cause-and-effect methods, RCA processes, cross sector best practices and developments in training - whilst simultaneously being a simple and scalable RCA process. It focuses on the steps that deliver value to individuals, teams and the organisation.

How does the Sologic RCA process work?

Sologic RCA drives logic to open up thinking and to analyse the cause-and-effect relationships of an event or situation.  It is a logical, evidenced based RCA process that is aligned to capturing how your business and organisation actually works. In doing this it takes away the focus from non-specific causes, opinion and blame, focusing instead on systemic causes, objectivity, collaboration and data. In its simplest terms Root Cause Analysis  (RCA) helps organisations identify the causes of problems and risks in order to develop solutions and mitigations to stop these events and problems from either re-occurring or happening in the first place.

By approaching your problems in this systematic and structured manner you will:

• Provide your organisation with a universal, scalable, practical and intuitive RCA process that will engage both novices and experts in problem solving
• Help your organisation to save money, time and, importantly, reach its business goals
• Build a business case through the steps of the process to support and justify the corrective and preventive actions and innovation in the organisation
• Unify your team around a common methodology, language and reporting system
• Develop an approach to problem solving and risk management that enhances and maximises your employee engagements strategy
• Effectively communicate your RCA findings, solutions and trends both internally and externally

Root Cause Analysis - Analyst Level 1 Course (2 Days)

Through attending the Sologic Analyst Level 1 class you will gain the knowledge, tools and confidence that lead to being able to implement an effective RCA process and to perform comprehensive and successful RCAs. You will benefit at all stages of the training from your trainer's extensive experience and mentoring in implementing this methodology and their knowledge of best practice. Using the RCA process and the skills that you will learn you will be able to apply this scalable process to solve everything from 'simple? everyday issues through to tough and recurring problems. The course will provide you with sound under-pinning knowledge along with a stimulating, interactive and practical learning environment and learning approach in which to assimilate this knowledge.

You will leave the two day training with the a clear understanding of the RCA process, a set of RCA tools so that once back in the workplace you can continue to build your skills and confidence to successfully and confidently initiate and complete RCAs to improve your organisation's operations and function.

By the end of this course you will be able to:

1. Recognise and manage common problem-solving paradigms
2. Describe how RCA supports the Problem Management and Risk Management processes
3. List the five steps of the Sologic RCA process
4. Describe threshold criteria and how they are used
5. Define the components of an effective investigation team
6. Demonstrate the ability to gather and manage supporting data
7. Demonstrate the ability to create an accurate and complete problem statement
8. Demonstrate the ability to complete an accurate cause and effect chart
9. Demonstrate the ability to identify effective solutions
10. Demonstrate the ability to create and deliver an effective final report
11. Describe the key elements of effective facilitation

Take this training in-house

If you have five or more delegates who wish to attend this briefing, it may be more cost effective to run it in-company. To find out more about in-company training, please contact the team on 0203 934 1014 or training@ukfinance.org.uk