A consistent approach in assessing and managing risk is crucial to successful quality management. MasterControl's risk management software system is an integrated solution to help companies identify and mitigate long term systemic risks by tracking and analyzing the recurrence of issues.
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MasterControl Risk™ is a "one-stop shop" that unifies all risk-related activities and documentation in a single, centralized repository. The MasterControl risk management software system provides a complete and accurate picture of the risk landscape across product lines, business processes, and business units, precluding reputation damage from recalls or regulatory action.
These examples demonstrate how MasterControl's risk management system helps companies efficiently manage consistent risk evaluation and mitigation processes:
In environments where risk assessments are performed but are not standardized, risk evaluations may vary from one assessor to the next. Whether an appropriate action is taken depends on the particular assessor, meaning that similar issues may end up being treated differently.
MasterControl's risk management software insures that a single system is being used to collect and manage risk management related activities. The system guarantees that corporate risk tolerance thresholds are employed and followed for risk-related activities across the enterprise. When used in tandem with MasterControl Process™, standardized risk calculation tools and methodologies can also be implemented.