What is Risk Management?

Risk management helps companies to identify operational, legal and procedural risks and to reduce them through preventive measures. It’s an important part of oneQuality management and one Quality management system. Dealing intensively with corporate risks is, for example, a mandatory prerequisite for certification according to ISO 9001: 2015. Although the standard does not prescribe any explicit risk management in the context of quality management, dealing with risks and systematically reducing these risks has proven to be an effective way of meeting the requirements ofISO 9001: 2015 to meet.

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Risk management also includes looking at the opportunities side. It’s not just about avoiding risks, but above all about identifying opportunities. Risk management is therefore a driver of internal company innovation and continuous improvement : Companies that recognize risks and opportunities and develop ideas to overcome them receive new ideas for

  • the process optimization
  • Process innovations
  • the product development and
  • Service innovation

Because dealing with risk is so essential to businesses, it is an important part of the business Training in quality management as well as the free Quality management training from Innolytics and the DICIS Institute.

Basics of Risk Management

An important part of the is that active risk management runs through all of a company’s activities ISO 9001 philosophy. Companies are required to deal with risks in their business processes, in their product development, in innovation, and in their markets. With ISO 31000: 2018, the International Organization for Standardization has issued guidelines for the treatment of risks to which organizations are exposed. [Risk management] is also an important part of other ISO standards such as ISO 27001 (information security) and ISO 56002: 2019. Which deals with building an innovation management system.

The Use Of Risk Management Software

Risk management software supports companies in identifying and assessing risks on the broadest possible basis in the company. Risks arise at different points in the company.

  • One example of this is the corona crisis, which initially only affected the Chinese branches of international companies and has spread from there.’
  • Reputation damage also often occurs at points in the supply chain that are difficult to identify from the company headquarters.

[Risk management] software gives companies the opportunity to have emerging risks – for example the local occurrence of illnesses. Or problematic conditions at a supplier – entered by employees at various points in the company.
Companies can do this

  • distribute [risk management] over several shoulders,
  • Assess risks according to a uniform process as well
  • Name those responsible and measures to overcome the risks.

The Innolytics [risk management] software enables companies to implement [risk management] quickly and easily.

The Innolytics [risk management] software is part of a software suite that maps all topics of corporate and organizational development in one software.

Different modules such as “ innovation management software ” and “ knowledge management software ” help companies weigh up risks. And opportunities and make knowledge about risks and opportunities available to employees.

Review Risk Management – Basics And Use Of Risk Management Software.

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