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Risk-Based Thinking – An informal risk management system aimed at improvement. Risk – What can go wrong with the various elements that make up a process that has many elements. Consider what can go wrong with Process Inputs the 5-M’s – Materials, Measures, Manpower, Methods, Machines Resulting Process Outputs. Each year we sit together as teams to assess the risk of key parts of the business. These meetings break up the current processes and assess anything that has the potential to fail/cause risk to the business. The team then puts in ways to reduce that risk. For example, if there is a key piece of equipment, they may put in regular services to reduce the equipment from failing.