CHAPTER 1: WHAT IS RISK?
Risk has many meanings and even more definitions. We will be looking at some of these in relation to management systems.
In the context of this pocket guide – which relates to management systems – the more important question is why is the idea of risk so important to the ISO 9000 family of standards? And, how can this approach help you to develop a risk-based management system?
As a starting point, ISO 9001:2015 sees risk “as the effects of uncertainty on an expected result.”3 ISO 31000 defines risk “as the effects of uncertainty on objectives.”4 Later, we will talk more about the differences between these and the definitions of risk in other standards. However, the key starting point is how the organisation views risk ...
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