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Benefits of introducing risk as part of ISO 9001:2015

ISO 9001 is a standard that sets out the requirements for a Quality Management System. It helps businesses and organisations to be more effective and efficient. A new version of the standard, ISO 9001:2015, has been launched, replacing the previous version (ISO 9001:2008).

The most noticeable change to the standard is the new structure, which now follows the same overall structure as other ISO Management System Standards – known as the High-Level Structure. Another major difference is the focus on risk-based thinking. Risk management is now an important aspect of any Quality Management System. ISO 9001: 2015 recognizes in its preamble the importance of “risk-based thinking” and considers risk management should now extend to “external delivering of goods and services” and should not target only core processes.

The new version of the standard brings the user a number of benefits. Below are some of the benefits of introducing risk as part of ISO 9001:
Minimization of risks – The risks that are handled within the given assessments plans are foreseen within the business functions. It enables one to speed up the data to change policies and contingencies that are made successful within the mapped business functions.

Harvesting knowledge – Here one try to spend the knowledge about the stakeholders experience of the pre-emptive approach that are made applicable for the unprepared threats towards the knowledge gained and this provides a template to face the readymade risks.

Reduce negative surprises – Risk management allows organisations to improve their ability to identify risks and establish appropriate responses, reducing surprises and related financial loss, and allowing them to profit from advantageous developments. If organisations have richer discussions about alternatives and unintended consequences, bad things aren’t just going to stop, but over time, they will be less surprised.

Improve resource deployment – Having a wealth of information on risk allows businesses to assess overall resource needs and enhance resource allocation. For example, a thorough risk assessment of a gas distribution company’s infrastructure enabled the organisation to decide what parts were so old that they needed replacing and what parts could function a few more years with repairs.

Making better decision – Risk Management enables you to foresee things. Knowing where your information is will enable you to put your hands on the right details fast, faced with any request for information. Mastering Risk Management gives you the visibility and confidence to make better business decisions, decisions based on real risks.

Satisfaction – Understanding and managing your risks brings peace of mind. You can be confident that you have taken due care and diligently exercised risk management in accordance with your business requirements.

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