6.1 Actions to Address Risks and Opportunities
The overall aim of risk and opportunity management within AGE is to ensure that organizational capabilities and resources are employed in an efficient and effective manner to take advantage of opportunities and to mitigate risks.
Management Responsibilities
Management is responsible for incorporating risk-based thinking into our organization’s culture. This includes the establishment of risk management policies and targets to ensure effective implementation of risk and opportunity management principles and activities by:
- Providing sufficient resources to carry out risk and opportunity management activities
- Assigning responsibilities and authorities for risk and opportunity management activities
- Reviewing information and results from audits and risk and opportunity management activities
Scope of Risk Management
The scope of the risk and opportunity management process at AGE includes:
- The assessment of the internal and external issues identified in QSM-4.1
- The assessment of the needs and expectations of any interested parties identified in QSM-4.2
Risk and opportunity management is undertaken as part of the day-to-day operations and is captured at the:
| Level | Description |
|---|---|
| Strategic level | Organization-wide risk posture |
| Department level | Functional area risks |
| Process level | Per top-level process as defined in QSM-4.4 |
| Order level | Per customer order/contract |
Risk and Opportunity analysis shall be performed for all top-level processes as defined in QSM-4.4 at the most appropriate level as determined by Management.