Risk Assessment
...define risk aligned with executive leadership risk strategy
Momentum Risk Assessment captures risk ratings to maintain visibility of risk and the results of risk treatment plans. Risk Assessment is configured to meet risk management requirements specific to your organization (e.g., ISO 14971 Medical Devices, ISO 31000, FMEA, etc.).
Risk Assessment | Guidelines | ISO 14971 Medical Devices
ISO 14971 risk assessment matrix:
Risk Assessment | Guidelines | ISO 31000
Executive leadership establishes guidelines for risk assessment, for example:
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Extreme Risk: Immediate action required
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High Risk: Senior management attention needed
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Medium Risk: Management responsibility must be specified
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Low Risk: Manage by routine procedures
Risk Assessment | Process
A risk assessment is completed in five steps:
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Risk (Initial)
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Risk Response (Tolerate, Treat, Transfer, Terminate)
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Extreme Risk: Immediate action required
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High Risk: Senior management attention needed
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Medium Risk: Management responsibility must be specified
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Low Risk: Manage by routine procedures
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Risk Treatment Plan
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Risk (Final)
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Risk Review