Al-Jaber International Company

Procedure
Quality Risk Assessment
Revision History
Revision Description of
DATE Initiated By Completed By
No# Changes
1st Oct 2016 Management Integration for ISO Management
01 Representative 14001 and OHSAS Representative
18001

Distribution List
Sr. No/ Designation Issue Date Distributed by

Management Management
01 1st Oct 2016
Representative Representative
Management
02 CEO 1st Oct 2016
Representative

03 Management
Chairman 1st Oct 2016
Representative

Revision Document
Document Issue Revision Original Document Document
Issue Approved
Number Number Number Issue Date Prepared By Reviewed by
Date By
Management
CEO Chairman
AJB-IMS-PR- Representative
1.0 01 01-01-16 01-10-16
09

Copyright

This document contains confidential information. It may be copied in full or in parts only by Al-Jaber
International Company and only for the purpose of Al-Jaber International Company related activities.
Disclosure of any information contained within this procedure to any person (s) outside the employee of Al-
Jaber International Company without written permission of the Top Management is strictly prohibited.

Page 1 of 4
 Al-Jaber International Company
Quality Risk Assessment
Original Issue Date: Revision Issue date: 01st
Doc. No: AJB-IMS-PR-09 Issue Number: 01 Revision Number: 01
01st January 2016 October 2016

Contents

Revision History ................................................................................................................................... 1

Distribution List ................................................................................................................................... 1
Contents ................................................................................................................................................ 2
1. Purpose ........................................................................................................................................ 3
2. Definitions ................................................................................................................................... 3
3. Procedure .................................................................................................................................... 3
3.1 General ................................................................................................................................ 3
3.2 Management of Risks ......................................................................................................... 4
3.3 Management of Opportunities .......................................................................................... 4

This document is the property of Al-Jaber International Company. Any copying and distribution of this document
without the approval of the Management is prohibited. Page 2 of 4
 Al-Jaber International Company
Quality Risk Assessment
Original Issue Date: Revision Issue date: 01st
Doc. No: AJB-IMS-PR-09 Issue Number: 01 Revision Number: 01
01st January 2016 October 2016

1.Purpose

 The company has established, implemented and maintained this procedure for managing risks
and opportunities throughout the AJB.
 Responsibility and authority for this procedure are spread across various functions, and defined
within this procedure.
 Note: this procedure has adopted definitions for key terms developed specifically by AJB and
determined appropriate for its use within the unique requirements of its management system. It
does not adopt current ISO definitions, which AJB has determined are not sufficient for its use.

2.Definitions

 Risk: A negative effect of uncertainty.

 Opportunity: A positive effective of uncertainty.
 Risk Assessment: a systematic investigation and analysis of potential risks, combined with the
assignment of severities of probabilities and consequences. These are used to rate risks in order
to prioritize the mitigation of high risks.
 Risk Mitigation: a plan developed with the intent of addressing all known or possible risks and
preventing their occurrence.

3.Procedure

3.1 General

 AJB considers and manages risks and opportunities differently.

 Risks are managed with a focus on decreasing their likelihood, and minimizing their impact if they
should occur.
 Opportunities are managed to increase their likelihood, and to maximize their benefits if they
should occur.
 Where risks and opportunities overlap, the best appropriate method for managing them shall be
ascertained, given the situation at hand.

This document is the property of Al-Jaber International Company. Any copying and distribution of this document
without the approval of the Management is prohibited. Page 3 of 4
 Al-Jaber International Company
Quality Risk Assessment
Original Issue Date: Revision Issue date: 01st
Doc. No: AJB-IMS-PR-09 Issue Number: 01 Revision Number: 01
01st January 2016 October 2016

3.2 Management of Risks

 Risks are considered during the execution of various processes.

 Each process is defined in detail through a Risk Assessment. This document includes the
identification and mitigation plans for key risks associated with the defined process. Al-Jaber
management reviews these risks and takes action to minimize them.
 The methods for risk assessments vary, but should always include a means of identifying the risk
under examination, and a description of the result of the risk assessment.
 Detailed methods may include FMEA (failure mode effects analysis), SWOT (strength, weakness,
opportunity and threat) or other tools. No single method is used for all risk assessments; the tool
selected should be the best tool applicable to that particular risk analysis.
 ISO 31010 provides guidance on the selection of risk tools.

3.3 Management of Opportunities

 As part of all process, Al-Jaber shall seek out opportunities which could enhance its financial
viability and market position. For example:
 obtaining new contracts
 obtaining access to new markets
 identification of new industries which may be served by Al-Jaber.
 development of new offerings that are within the scope of capabilities of Al-Jaber.
 streamlining existing processes to improve efficiency and reduce costs
 In addition, throughout all Al-Jaber processes, the corrective action system and internal auditing
process should be used to identify possible opportunities for improvement.
 Discussing and analyzing opportunities shall be done by top management. If made part of the
management review activities, these shall be recorded in the management review records.
 If an opportunity requires a risk assessment, this shall be done as defined above.
 Analysis of any opportunity will generally result in one of the following possible determinations:

 Pursue the opportunity

 Explore the opportunity in greater detail before proceeding
 Accept the opportunity, but under limited and controlled conditions
 Decline the opportunity, typically based on a high expected risk

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without the approval of the Management is prohibited. Page 4 of 4