4. Prioritize
The standard specifies that "actions to address risks and opportunities must be proportional to the potential impact on the conformity of products and services" (§ 6.1.2).
It's natural to prioritize the risks and opportunities to be addressed according to this impact. As a first approximation, this can be done as early as step 2.
4.1 Quantifying risks
You can evaluate the probability of a significant deviation, or the uncertainty range of a result.
If the influencing factors are multiple, indicator-by-indicator (or result-by-result) analysis can prove complex. For example, a scrap rate may be influenced by multiple factors...
Carry out an objective-by-objective analysis, or an activity-by-activity...
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Prioritize
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