Identifying and controlling and implementing  is a critical step in risk-based thinking for the ISO 9001 Certification in Visakhapatnam quality management system (QMS). Risk that  you have identified you will need to assess the severity of the problem  that  risk should be happen. You need to combine  with the assessment of how likely the problem is to occur and whether it is possible to detect the problem. By combining the numbers assigned to these properties you get the risk priority number (RPN) from the Failure Modes and Effects Analysis (FMEA). It helps to you consistently determine the significance of each risk you have identified for your QMS.

Types of risk strategies:

There are six types of risk strategies for a standard control structure 

After determining which risks are significant You want to determine what controls to put in place of each risk, so that we can use the risk significance to decide what level of control is needed. It is a best understood standard control structure that uses six ways to manage risks, as defined in ISO 9001 Certification in bangalore.In down the six risk strategies are explained

  • Retaining risk by informed decision: For too small risks the best strategy are just accept the risk and proceed. The problem has a very less chance of happening, or server does not occur, then choosing to just react to the problem should it happen can be the best decision. Its also other possible way to avoid measure is too costly or time consuming to be worth the resources it would take to implement.
  • Risk avoiding: For important information the action must be taken to prevent risk or in other words change the chance of occurrence. it can improve the process by replacing old equipment with better equipment, otherwise change the design to remove a component that is causing a risk. This key help’s to avoid the action completely so that the risk no longer exists.
  • Eliminating the risk source: In ISO 9001 Certification in Chandigarh The best way of avoiding the risk is to eliminate the risk source. It’s used to removing a process step that is risky and replacing it with one that does not have the risk.
  • Sharing the risk: The transferring risk through insurance in place that would provide the necessary additional resources to deal with a problem if it happens
  • Changing the likelihood or consequences: We are not stopping the risk from happening, but you are increasing your chances of identifying the problem after it occurs. This mitigation often includes having plans in place to deal with the consequences of the risk once the problem has occurred, examples are putting in administrative controls, training, or additional inspections are examples of mitigation of the risk.
  • Taking risk in order to pursue an opportunity: In ISO 9001 Certification in Madurai The risk can be assigned in terms of what you need to do to capitalize this can take the action to happened. It is your plain for exploiting the risks in order to benefit from long-term gains to your organization.

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