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
Consultants are going to be challenged with Risk Based Thinking and risk requirements in ISO 9001:2015. Why? Most ISO management system consultants are not risk consultants or understand RBT. RBT and risk based auditing are so new that most ISO management system consultants have not done a risk based, process, and effectiveness audit. Continue reading
Harvard Business Review this month published an article on ‘How to Live with Risks.’ The essence of the piece is that we are looking for risk in all the wrong places:
“Risk management has historically focused more than half its time on legal, compliance, and financial reporting functions. That’s starting to change as companies realize that most big hits to shareholder value come from strategic and operating risks.”[i]