Many businesses use a form of SWOT analysis to assess risks and opportunities in planning sessions. A FMEA-Failure Modes & Effects Analysis allows process owners to identify and mitigate risks within and between key business processes. Risk-based thinking, the process approach, and the Plan-Do-Check-Act (PDCA) cycle are the approaches and methods to plan and adjust for risk and opportunity and to make adjustments as needed in key processes and products or services. ISO 9001:2015 introduction states “The process approach enables an organization to plan its processes and their interactions.” It goes on to say “Risk-based thinking” enables an organization to determine the factors that could cause its processes and its quality management system to deviate from the planned results, to put in place preventive controls to minimize negative effects and to make maximum use of opportunities as they arise.” Learn more at http://cpisystraining.com/
