{domain:"www.qualitydigest.com",server:"169.47.211.87"} Skip to main content

User account menu
Main navigation
  • Topics
    • Customer Care
    • FDA Compliance
    • Healthcare
    • Innovation
    • Lean
    • Management
    • Metrology
    • Operations
    • Risk Management
    • Six Sigma
    • Standards
    • Statistics
    • Supply Chain
    • Sustainability
    • Training
  • Videos/Webinars
    • All videos
    • Product Demos
    • Webinars
  • Advertise
    • Advertise
    • Submit B2B Press Release
    • Write for us
  • Metrology Hub
  • Training
  • Subscribe
  • Log in
Mobile Menu
  • Home
  • Topics
    • 3D Metrology-CMSC
    • Customer Care
    • FDA Compliance
    • Healthcare
    • Innovation
    • Lean
    • Management
    • Metrology
    • Operations
    • Risk Management
    • Six Sigma
    • Standards
    • Statistics
    • Supply Chain
    • Sustainability
    • Training
  • Login / Subscribe
  • More...
    • All Features
    • All News
    • All Videos
    • Contact
    • Training

Manage Risk Systematically

A comprehensive risk assessment allows companies to act rather than react

Oscar Combs
Fri, 02/10/2012 - 10:58
  • Comment
  • RSS

Social Sharing block

  • Print
Body

With companies being asked to produce more with fewer resources, managing risks is more critical than ever. Sometimes organizations become so accustomed to navigating around their inherent risks that they become complacent in identifying and anticipating them—until something catastrophic happens.

ADVERTISEMENT

Many businesses face risks such as regulatory, economic, supplier, occupational hazards, environmental, inclement weather, product quality, security and protecting proprietary information. This is why it’s important for businesses to systematically perform a risk assessment of their business operations and activities and implement proactive measures to mitigate them.

The risk management cycle

To manage risk effectively, one must first understand the risk management cycle, which consists of six steps (see figure 1):
1. Define your risk profile
2. Identify potential risk
3. Assess and analyze risk
4. Develop risk mitigation controls
5. Decide and implement
6. Evaluate and monitor

 …

Want to continue?
Log in or create a FREE account.
Enter your username or email address
Enter the password that accompanies your username.
By logging in you agree to receive communication from Quality Digest. Privacy Policy.
Create a FREE account
Forgot My Password

Add new comment

Image CAPTCHA
Enter the characters shown in the image.
Please login to comment.
      

© 2025 Quality Digest. Copyright on content held by Quality Digest or by individual authors. Contact Quality Digest for reprint information.
“Quality Digest" is a trademark owned by Quality Circle Institute Inc.

footer
  • Home
  • Print QD: 1995-2008
  • Print QD: 2008-2009
  • Videos
  • Privacy Policy
  • Write for us
footer second menu
  • Subscribe to Quality Digest
  • About Us
  • Contact Us