Complimentary White Paper: Best Practices for Successfully Navigating Regulatory Change Management in 2021 | Request Demo

Mitigate Risks Through Corrective and Preventive Actions

Posted by: Sarah Hamilton | October 1, 2013

Home/ Blog / Mitigate Risks Through Corrective and Preventive Actions

From the food you eat to the shoes you wear to your choice of office seating, there is a risk associated with every daily decision you make. Although there are uncontrollable events that affect risk, corrective and preventative actions (CAPAs) help mitigate risk.

As I sit here writing this blog, I am on a large exercise ball, which might have lower long term risks than a conventional office chair, yet immediate risks are higher because of the ball’s instability. My office seating choice serves as a preventative action for long-term back aliments. Sitting up straight with my feet firmly on the ground serves as a corrective action to fix my stereotypical, young professional poor posture.

Within regulated industries, such as Financial Services, Power & utilities and Oil & Gas, CAPAs differ slightly from sitting up straight on an exercise ball. With regard to proper procedures on an off-shore drilling location, safety training and incident management mitigate risk. Entities need to take responsibility for their employees by implementing proper safety and procedure training to maintain compliance, as well as to promote a healthy working environment.

Despite all the preventative actions you might take, an incident can occur.

You can minimize risk; however, you cannot eliminate it. If an incident occurs, you must participate in proper incident management to show strides being made in the correct direction. If an incident occurs, an entity must prove to auditors and employees that the problem is no more and will be prevented in the future.

 

We live in a world filled with risk. You can slip and break an ankle while sliding across your hardwood floors in tube socks. You can develop long-term health issues from poor diet and exercise decisions. You can have a system breach from improper information security practices. All of these incidents could potentially occur; however, CAPAs mitigate some risks associated with them. Don’t wait for something detrimental. Assess the risk and utilize CAPAs.

 

Remain up-to-date on industry news / updates through our  Twitter & Linkedin profiles.

*All images are property of their respective owners.

 

Request a Demo

Request a Demo

Complete the form below and our business team will be in touch to schedule a product demo.

By clicking ‘SUBMIT’ you agree to our Privacy Policy.