Risk and opportunity procedure
Management system procedures and forms
Introduction and purpose
The purpose of the risk and opportunity procedure and forms is to help businesses define their risk and opportunity management framework and activities, including methodology, risk appetite, methods for training, reporting, and escalating risks.
Application and scope
The risk and opportunity procedure has been developed to assist in meeting the requirements of Clause 6.1 of ISO 9001:2015, ISO 14001:2015, or ISO 45001:2018 - Actions to address risks and opportunities.
Risks and opportunities are defined as ‘something happening that may impact the achievement of the management system's objectives and the policy, and which can adversely affect the conformity of products and services or the effectiveness of your management system.' Risk-based thinking and risk and opportunity management should be central to any organization’s strategic management process.
The risk and opportunity procedure includes four essential form templates referenced from the procedure, supplied in .docx and .xlsx formats that can be retained as hard or soft copies.
Risk and opportunity register
Although risks and opportunities have to be determined and addressed, there is no requirement for a formal, documented risk management process. The risk and opportunity register will provide your organization with a consistent methodology to capture, assess, and prioritize strategic and operational risks and opportunities with respect to the management system.
Use the risk and opportunity register to capture and evaluate the full range of issues facing different areas of your business. Identifying risk is a critical step in managing it, and the risk and opportunity register allows your organization to assess the risk in context with your overall strategy and helps record the controls and treatments of those risks.
The risk and opportunity register uses pre and post-control indicators enabled by conditional formatting to compare the risk score to the defined risk exposure level. Based on the risk exposure indicators, the adjacent cells will display a proposed control action as per the risk assessment scoring worksheet.
Opportunity evaluation
Organizations can take advantage of new opportunities by building on current strengths, anticipating future trends, introducing new technology, developing new products or services, capturing and disseminating lessons learned, sharing and promoting good practices, opening new markets, and attracting new customers.
Taking or not taking an opportunity presents different levels of risk. To evaluate these risks, taking (or not taking) each opportunity is defined in the risk and opportunity register, and the associated risks are evaluated. Opportunities may be identified as positive effects of risks, such as a risk that forces the implementation of a risk reduction measure that is beneficial in a broader context than just reducing a particular risk.
Quick to download and easy to implement!
Prepared using Office 2016, the risk and opportunity procedure and forms are fully editable. Easily amend the headers, footers, text, turtle diagrams, process maps, and layout style to suit your business's formatting requirements.
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Risk and opportunity procedure and forms.
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ISO 9001:2015 QMS (PR04)
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ISO 14001:2015 EMS (PR05)
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ISO 45001:2018 OHS (PR06)
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| ISO Management system procedure template, with 4 forms, in .docx and .xlsx formats | |||
| » 12-page risk and opportunity procedure [in .docx] |
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| » Risk & Opporunity Register Template [in .xlsx] |
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| » Opportunity Evaluation Template [in .docx] |
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| » SWOT Analysis Template [in .docx] |
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| » PESTLE Analysis Template [in.docx] |
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ISO 9001:2015 QMS (PR04)
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ISO 14001:2015 EMS (PR05)
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ISO 45001:2018 OHS (PR06)
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