This is the final installment in our six-part series on how automating common business processes with a quality management system (QMS) can benefit your organization. In this installment, we'll focus on risk management.

The product life cycle is moving at warp speed, which makes measuring compliance difficult. To keep up with this pace, tools such as those associated with risk management are beneficial. Proper risk management makes it possible to handle your organization's adverse events systematically, allowing you to keep up while maintaining and ultimately improving compliance. This makes risk management a crucial part of any QMS, showing you where risk lies in your organization so you can proactively address it before it spreads.

The risk matrix

In risk management, potential risks are identified, often through a complaint or adverse event. From there, you can evaluate the probability and likelihood of that event occurring. This is where risk assessment tools are effective; one such tool is the risk matrix, as seen in figure 1.

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