MCT Risk

1. A process is defined, among other things, by its:

• Purpose
• Strategy
• Documents and records
• Owner
• Outputs

2. According to ISO Guide 73 version 2009 the risk is:

• Effect of uncertainty on the achievement of objectives
• Combination of the probability of an event and its consequence
• Combination of the probability of occurrence of harm and the severity of that harm
• Effect of uncertainty

3. The process approach, among other things:

• Relies on process management
• Allows roles and responsibilities to be clarified
• Allows costs, delays and waste to be reduced
• Focuses on the priority to investments

4. The cost of risk management during production is:

• Between 10 to 100 times higher than during design
• Between 1,000 to 10,000 times higher than during design
• Between 100 to 100,000 times higher than during development

5. Risk:

• Is inevitable
• Is intrinsic to any activity
• Can be eliminated
• Cannot be eliminated
• Can be reduced