By having predetermined procedures for risk identification, assessment and mitigation, Flexenclosure will be able to protect the organization’s resources and income opportunities by
- avoiding threat
- reducing the negative effect or probability of threat
- or even accepting some potential or actual consequences of particular threat
Flexenclosure has defined the following risk categories:
- Business Partners
Each of these risk categories is explained in the Risk Management framework; the identified risks and the mitigation actions as well as reference documents to existing procedures in the Quality Management System.
The risk management is not a separate process or action; it shall be used throughout the processes within the company’s business operations to make sure Flexenclosure has the resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.