The risk matrix is a versatile tool that you can apply to a multitude of processes and events, including Corrective and Preventive Actions (CAPAs), audit non compliances and customer complaints.
A risk matrix plots varying degrees of probability and impact on a color-coded chart, allowing you to quantify the risk of the event. Red represents generally unacceptable risk, while green represents generally acceptable risk.
So what about the middle region? Where is the official boundary between acceptable and unacceptable risk? That depends on your internal company policies. Vetting your risk matrix against historical data, management can determine the precise numerical value (or range) that would require a new control or reworking the process.
Once you’ve done the important work of vetting your risk matrix and establishing clear guidelines, it makes any decision that much simpler. If you’re using integrated GMP Compliance Software, you should be able to drop a risk matrix into any application where you want to use risk as a factor in your decision-making.
