SCP/IMSP/13

INTEGRATED MANAGEMENT SYSTEM PROCEDURE

ISSUE NO : 01
SCP Procedure For Risk Assessment REV. NO :00
DATE:01.06.2019
PAGE: 1OF 2
Purpose:

To establish a documented procedure to define the process of conducting risk assessment

Scope:

This procedure is applicable for risks related to all the processes identified for QMS and needs
and expectations determined related to relevant interested parties

Responsibility:

QMS coordinator is responsible for the effective implementation of this procedure in coordination
with concerned process head.

Procedure:

1. All the processes related to QMS in the organization are identified and listed . Also the needs
and expectations or interested parties determined from context of the organization are
considered to conduct the risk assessment
2. Risks related to each process are identified. ( potential failures to achieve the objectives)
3. The implications of not meeting the objectives are determined and entered in the risk
assessment format
4. The severity of implications ( consequences) and likelihood of occurrence ( probability) is
identified from the following table and ranking given

Risk Ranking Index

Ranking Severity Probability
1 Negligible Rare
2 Moderate Occasional
3 Medium Normal
4 High Frequent
5 very High Very frequent

Prepared by Reviewed & Approved by Issued by

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 SCP/IMSP/15
INTEGRATED MANAGEMENT SYSTEM PROCEDURE
ISSUE NO : 01
REV. NO :00
SCP
Procedure For Risk Assessment DATE:01.06.19
PAGE: 2 OF 2

1. For severity and probability ranking 1 is considered as lowest and 5 is considered as highest
Values
2. The product of severity and probability is considered as risk value

3. Based on the risk value arrived the risk is categorized as low / medium / high according to the
following table

RISK TREATMENT
1 to 8 Low Acceptable
9 to 16 Medium Action required ( mitigation plan)
17 to 25 High Not acceptable -( Risk Elimination)

Risk values from 1 to 8 will be considered as low and risk can be acceptable
4. Where ranking is 9 to 16 the risk level is considered as medium and an action plan is initiated
to reduce the probability of occurrence.
5. Where the ranking is falling between 17 to 25 is considered as highest and programs to be
initiated to eliminate the risk / to reduce the probability of occurrence.
6. On implementing the mitigation plan / engineering controls / programs, rankings given are
reviewed and revised.
7. Based on revised ranking values further course of action is decided according the ranking
obtained.
8. As an when new process are included / needs and expectations of interested are changed risk
assessment is reviewed and updated.
9. The risks identified and actions implemented against the same are reviewed in management
reviewed
Ref : Risk assessment format
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