Risk & opportunity

Risk and Opportunity is a new addition to the ISO 9001:2015 standard. A new risk based thinking (RBT) concept is introduced in the standard. This concept requires an organization to identify risks and opportunities so that the QMS can achieve desired results, positive effects can be enhanced, undesired effects can be prevented or reduced, and improvement can be achieved.

The better we manage risks, the better prepared we are able to face uncertainties in this dynamic world. Risk is the effect of an uncertainty on an objective or expected result. This module allows an organization to capture risks at context level covering internal issues, external issues, interested parties, their needs and expectations, risks inherent in various processes, services and products.

It provides a simplified platform to identify, categorize, evaluate, rate and address risks using likelihood of occurrence and impact as risk evaluation parameters.

While you focus on identification and treatment of risks, the ISO 9001 standard also wants an organization to identify opportunities and the resultant benefits it might bring. This module also allows an organization to work on opportunity identification and appropriate action plans. The risk and opportunity module of Effivity ensures you meet all these requirements in an effective, efficient and simple manner. The steps below demonstrate the capabilities of this module and show how you can comply with the requirements of the risk and opportunity clause and RBT (Risk based thinking) as a concept.

1. Capture risk and opportunity types, and define whether these are captured from context, processes, or products / services.
2. Define the activity / source where the risk or opportunity may occur.
3. Define to which category risk belong by selecting from a predefined list of categories.
4. Describe the risk in detail.
5. Define impact and probability of occurrence.
6. Define how you are going to treat the risk by selecting from a predefined list of treatments.
7. Define the suitable action to treat the risk.
8. Identify opportunity and describe how you are going to capitalize on it by documenting the action plan.
9. Regularly review risks and opportunities.
10. Procedure and forms relating to risk and opportunity can be captured in the documented information module.

The comprehensive capabilities of this module enables all the requirements from Risk and opportunity clause and intent of RBT – Risk based Thinking to be addressed in a quick and simplified manner while ensuring 100% compliance to the ISO 9001:2015 standard. Contact us at info@effivity.com for further information or visit ISOCertification/Register.htm to subscribe to our award winning and one of its kind of ISO 9001 compliance software.