ERM is a relatively new concept. There is a robust discussion among experts what it really means. Common ERM elements in most definitions include:
ISO maintains risk has implicitly been a part of the standard since the ISO 9001:2015 revision. How? In the new standard, ‘preventive action’ has evolved to ‘actions to address risk and opportunities.’ This changes the Corrective Action – Preventive Action (CAPA) model. In the past, Preventive Action was implemented as a result of Corrective Action specifically to prevent the recurrence of the nonconformity. Continue reading
In 2000, I wrote Risk Management: Is It the Future of Quality Management? for ASQ’s Quality Progress. We’ve been evangelizing this concept a long time.
Why do I bring this up?
We’ve been evangelizing the mantra for 15 years. We felt so strongly that we have a have a registered trademark on the Future of Quality: Risk® Continue reading
What is Risk Based Thinking (RBT)?
We get this question weekly and sometimes daily it seems.
Why? ISO has not defined Risk Based Thinking? And, this is a hugely important question because ISO has elevated RBT to the same level as PDCA and Process in the Final Draft International Standard (FDIS) of ISO 9001:2015. Continue reading
In today’s global and highly competitive marketplace, every organization faces uncertainty and risk. This is the fundamental premise of the ISO 9001:2015 standard. It could be upside risk as to where a company is going to invest, how it will invest, and what type of business outcomes it expects to achieve based upon its investment risk profile. These are fundamental business model and market issues. Continue reading