Risk management strategies are needed to mitigate consequences in a QMS. Risks are managed in three phases: assessment, control, and review by using risk management tools and risk communications. The risk assessment process consists of identifying, analyzing, and evaluating risks. Then, it is reduced and accepted in the control portion. If it is unacceptable, the assessment phase is repeated. Events are reviewed and re-evaluated if necessary (Durivage, 2017). The risk management component of the QMS provides more transparency in the decision-making process. The quality management system is maintained monitoring continuous improvement efforts to eliminate unnecessary functions. KPIs must be defined to accurately measure performance and the effects it has on the company's finances and stakeholder views. The company can use assessment tools to measure success and employee compliance to the system. Audits can be performed to find areas of improvement, and feedback from workers would help managers identify and fix issues in the QMS.

 

Assignment: Suggestions for further resources, questions of clarification, or providing context and insight. Avoid simple posts of agreement; if you agree, explain why and then thoughtfully further the conversation?