In times of crisis, the concept of risk becomes front-and-center for every organization. Yet how much do most of us really understand about risk?
According to ISO 31000:2018, risk is the effect of uncertainty on objectives. This creates a deviation from expected outcomes that can result in both threats and opportunities. For example, while COVID-19 presents a significant threat to many organizations, others have found opportunities to offer new and innovative solutions that meet the specific needs people have during this time of crisis.
ISO 9001:2015 incorporates risk-based thinking into every level of the latest version of the standard for quality management systems. In doing so, ISO is demonstrating the way in which risk touches every level of the organization. Risk-based thinking also encourages us to look beyond the confines of our organizations and see the many other places where we can find risk. Supply chains, for example, have experienced severe and unexpected disruption during COVID-19, which has forced many organizations to better embrace the principles of risk-based thinking and to look for opportunities for innovation that mitigate threats.
The new Intelex webinar Beyond the Matrix: Understanding the Impact of Risk Across Your Management System will be an in-depth look at the ways in which risk impacts all the elements of your organization. You’ll learn about:
- the importance of integrated risk management
- managing supply chain risk, and
- innovations in risk assessment.
