Tag Archives: risk management

Why Understanding Your Internal & External Issues Is Important

Like many systems of this type, there is no formal structure for identifying internal and external issues, the associated risks and the necessary contingencies and back up plans. In this situation you often get the impression that the management team simply “know” what these things are and “naturally take them into account”. So why the need for anything more formal? Continue reading

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API Q1 Revision 9 and the Risk Based Approach

The extent that the “risk based approach” will affect the nature of ISO 9001 certification is a hot discussion topic at the moment. Obviously, with the actual standard still months away (we haven’t yet, at the time of writing even seen the FDIS) the debates are academic and hypothetical. However lately I have had some exposure to how the risk based approach may impact the QMS in a very practical way, having just started an API Q1 revision 9 project. Continue reading

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Risk Velocity

I have discussed the various elements involved with evaluating risk before but have recently just came across the term ‘risk velocity’ and it attracted my attention enough to make me do a little research and talk to other professionals about it. Continue reading

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Risk Exposure

I have travelled through Kabul recently and watch the driving which is a push your way in to a gap that your vehicle virtually fits, no second thought to the risk of damaging the vehicle itself. Then you watch the people who wander across the road in front of vehicles and do not seem phased by the closeness of the vehicles that pass. Sometimes this is families with children and been sitting in the road to beg, maybe this is a means to an end and a choice taken away and therefore their tolerance is increased. Is it the fact that they have lived through turmoil and that they do not perceive the risk in the same way as someone who is not exposed to these risks. Continue reading

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ISO 31000 Risk Management (Part 2)

Within the risk management process itself, we will revert to the adoption of risk assessment, a term used throughout industry to a large scale and sometimes the results, formats and information can be of quantity and not quality. The risk assessment is the process and means by which you are going to identify your risks and this will influence decision making, therefore it is important to get this right. Continue reading

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