| 0.3.3 Risk-based thinking Risk is the effect of uncertainty and any such uncertainty can have positive or negative effects. A positive deviation arising from a risk can provide an opportunity, but not all positive effects of risk result in opportunities. |
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ISO 9001: The Definition of Risk within the Standard
Here is the definition of Risk in terms of the ISO 9001 Standard. A risk can be a good thing or a challenge. A risk can attract new customers, reduce waste, or improve efficiency.