FARMINGDALE, NY (06-08-07): EtQ has announced the release of an integrated Risk Assessment module, part of version 5 release of EtQ's Reliance Quality Management System.
Risk management and risk assessment are not new to the quality and compliance industry. In fact, risk has been a prominent feature in such standards as ISO 13485:2003, ISO 14971, and more. As Quality Systems evolve, the concept of incorporating risk into quality processes is becoming more and more a necessity.
Recognizing this need, EtQ has developed a stand-alone module that allows users to configure and integrate risk-based assessment tables within all of EtQ's modules, or as an independent risk event. From the EtQ Risk Assessment module, users can create risk assessment templates, with tables and charts to identify severity, frequency, or other risk-based criteria. These templates can be used for an independent risk assessment event, and can be linked to modules within the EtQ Quality Management System. The result is an integrated risk tool that calculates the risk of quality events at every step of the process, thereby improving overall quality, and reducing recurrence of critical events.
As an example, EtQ is able to use the Risk Assessment module with Corrective Action and Preventive Action (CAPA) to minimize the number of CAPAs that enter a Quality System.
Using the Risk Assessment module, companies can reduce the number of CAPAs by filtering out non-critical events and investigating only those events that have a critical impact on the enterprise. Each risk assessment event incorporates risk mitigation tracking, to ensure that corrective and preventive actions reduce the risk to appropriate levels.
]The Risk Assessment Module furthers the concept of continuous improvement by allowing companies to build risk portfolios for individual products. This allows the enterprise to leverage previous risk assessments, all the way back to product design, to quickly identify the appropriate risk level and resolution for quality and compliance events.
EtQ's Risk Assessment Module is just one of over 20 integrated modules available in the EtQ Quality Management System, designed to manage and measure quality and compliance processes and execute organizational change.
EtQ is the leading Quality, EHS, Operational Risk and Compliance management software provider for identifying, mitigating and preventing high-risk events through integration, automation and collaboration. At the core of EtQ’s framework is a compliance management platform that enables organizations to implement best-in-class compliance processes configured to meet their existing processes, create new compliance processes and automate and control their compliance ecosystem. EtQ’s product lineup includes Reliance™ for enterprise organizations and Verse Solutions™ for mid-sized businesses. EtQ was founded in 1992 and has main offices located in the U.S. and Europe. To learn more about EtQ and its various product offerings, visit www.etq.com or blog.etq.com.
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