IDENTIFICATION OF RISKS AND OPPORTUNITIES

IDENTIFICATION OF RISKS AND OPPORTUNITIES 

Identify external & internal issues which are relevant to purpose of strategic direction of the organization.

Consider internal & external issues to enhance desirable effects & give assurance to achieve the intended result of Quality Management System.

Determine the risk and opportunities need to be addressed to

To give assurance that the quality management system can achieve its intended results;

Enhance desirable effects

Prevent, or reduce, undesired effects

achieve improvement  

Prepare Risk Analysis Sheet to prevent undesired effect & to achieve continual improvement of the QMS. 

Review the Risk Analysis Sheet as per Process Risk Analysis Review Plan at six-month frequency.

After analysis of risk identify opportunities associated in respective process, identify the controls required to reduce the risk.

Take appropriate action to reduce risk and for identified opportunities. 

When planning these actions, shall consider its technological options and its financial, operational and business requirements

Discuss the action taken to reduce the risk and addressed opportunities and effectiveness of action taken in every MRM.