The Key Role of Risk Management in Integrated Management Systems

Srdjan Živković
Veljko Petrović

At the beginning of the 21st century, integrated management systems (IMS) are the key for quality management, in order to meet customer needs, restructuring the organization, reducing costs, increasing productivity and profit, and the long-term sustainable development of the organization. ISO 9001 forms the backbone of an integrated management system, as it establishes a systematic approach keeping in mind risk in business. Risk-based thinking is already a part of the process approach. This approach establishes a link between the likelihood of a particular danger and the seriousness of the consequences. The paper presents the principles of risk management that are embedded in the integrated quality management system at the Military Technical Institute. The specificity of the development of armament and military equipment requires an integrated approach to risk management. The presented structure of the IMS enables a simple extension with the requirements of the new standards that are planned for implementation in the future.

Key words: risk, integrated management systems, product lifecycle management.