By now most people are aware that ISO 9001 is in the process of being revised, with a planned release date of some time in 2015. Reactions from users range from mild curiosity to excitement to extreme trepidation. Continue reading
The words “risk” or “risks” have been sprinkled throughout the 2015 revision of the ISO 9000 standard. Although some “requirements” will be easy to satisfy using well-established process monitoring or capability techniques other references to risk are so vaguely stated as to be open to a myriad of interpretations and thus become meaningless. Having read and re-read the current references to risk spread over several paragraphs I wonder if it would not have been better to address risk in one paragraph at the beginning of the standard. I have “cut and paste” most of the current references to risk and included brief comments. Continue reading
The other day I was invited to talk to quality executives on risk management. These were quality executives in a sector that we don’t consult in.
I was invited because the quality executives wanted an outside perspective of risk management. This is critical as sooner than later ALL quality programs and initiatives will be moving towards or integrating risk management. Continue reading
In our last issue, we posed the following questions that we believe each quality executive should be able to answer about risk. The questions are:
The COSO guidance was originated in the 1990’s in response to the Savings and Loan Crisis. It was developed to provide guidance to organizations while developing a system of internal control for their companies. About three years ago I was asked by Jeff Thomson, President and CEO of the Institute of Management Accountants (IMA), to join the IMA team helping to update the more than 20-year-old guidance. The team was ably led by J. Stephen McNally Finance Director/Controller of the Campbell Soup Company. Continue reading