ETQ. The latest revisions of ISO standards require companies to apply risk-based thinking in their process planning, operations and performance evaluation. To embrace this shift, risk must be considered in every quality activity. Having tools to identify, mitigate and report on risk lets you seamlessly incorporate risk into all processes rather than keeping it a siloed activity. Quality-conscious companies visualize, streamline and share their most critical process information to turn risk insight into action that transforms quality and compliance into market advantage. Risk is a common language among all processes.Risk management is a systematic means by which companies can identify hazards, assess and measure the risk of those hazards and act based on the risk. Although everyone manages risk for different purposes, the core process remains the same.