Risk is defined as ‘effect of uncertainty’, which means in includes negative risk as well as positive risk (also called opportunity). Assessment of both is required to be done in integrated manner.
In addition to this all organizations pay attention to quality of product or services, safety and health of persons working for it, and the environmental aspects. In other words, organizations have systems of ISO 9001, ISO 45001 & ISO 14001 implemented. Every individual system requires risk assessment to be carried out. But what makes sense in an integrated management system is ‘integrated risk assessment’ for all (quality, environment & safety and health) sub-systems together. A template for integrated risk assessment was designed few years ago and has worked for many organizations in serving the purpose. It has all the fundamentals included and never any auditor could find illogicity in it. Please find the template below: