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Risk Management

The recent changes since 2015 of quality, environmental and (soon) OHS management system standards have confirmed that the control of risk is the fundamental driver for business compliance management and creating business opportunity. Never has business leadership in risk management been more critical considering the extremely diverse range of risks facing business in today's fast paced, technologically changing and disruptively innovating business environment.

Here are some highlights and critical requirements of the updated management system standards in order to control risk.

Management must understand:-

<> the business's context,
<> the needs and expectations of interested parties,
<> the require scope of the management system,
<> the critical required business processes.

Business processes should be determined and developed taking into account:-

<> The required process inputs and the expected outputs,
<> How the processes interact,
<> The required performance indicators,
<> How to monitor these performance indicators to operate and control processes,
<> The assignment of appropriate resources, responsibilities and authorities,
<> Ensuring that change is implemented and evaluated to ensure that intended results are achieved.

Full understanding of and compliance with the changes will be a challenge for many businesses for years to come especially to the business's leadership who must plan, communicate and champion the required changes. 

Risk focus has always been a fundamental approach of management systems developed by IMS. Expert guidance (by IMS) may be required!