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B2. a) The latest versions of Management Systems Standards incorporate the ideas of the Risk...

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B2. a) The latest versions of Management Systems Standards incorporate the ideas of the Risk Based Approach. Using an example from any field covered by Management Systems, briefly explain the process of carrying out a Risk Assessment. [5] b) Explain how the concept of managing risk can help managers to decide what topics or areas of company operation should be managed using a management system. Clarify using a drawing of the risk matrix. [5] c) Using an example explain what approaches a company could take to manage risk. [5] d) What is the purpose of auditing a Quality Management System? Explain how the concept of managing risk can be applied to the choices that are made when setting up an auditing schedule. [5]

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