My system has one procedure called "Corrective & Preventive Action and Continual Improvement"...these represent the 3 tools available to management to react to process performance metrics, or to nonconformances, so it makes sense to have them all in one procedure.
Let's say you start with a "Corrective" Action...when you flow it out, one of the final steps should be to ask yourself if the corrective action could be implemented somewhere as a "Preventive Action"...so the next page of the flow chart should take you to "Preventive Action" process.
To make sure that this happens, I created a Metrics DASHBOARD database to help keep Sr. Management focused and disciplined (and because I hate seeing them squirm and sweat during a surveillance audit).
In preparation for Management Review, they record the "Performance Status" of each metric (for which they are champion).
Based on that status, they answer the question, "Is Corrective Action necessary?"...if the answer is "YES", they hyperlink to the solution, and then, also answer the question, "Can this action be implemented elsewhere as a preventive measure?"....If the answer is yes...they link to the Preventive Action. (If the answer is "No", that's the end of the sequence).
If the answer to "Is corrective action necessary?" is NO, (which means their metric is on plan and/or meeting its stated objective), then they have to answer the question, "Is there an opportunity for continual improvement?" (you can't initiate a Continual Improvement unless your metric is meeting objective, and no actions are necessary - any action taken before you're meeting your objective is, by definition, "corrective", and not an improvement). If the answer is "YES", you hyperlink to the Continual Improvement. If the answer is "No", you answer the question "Why not?" (possible answers: "no resources currently available, no improvements identified, timing constraints, etc.), and that's the end of the sequence.
However, this demostrates to the auditors that Sr. Management is always assessing the opportunity for continual improvements, and reviewing if they are feasible, cost-efficient, and timely. It further hyperlinks them to all the Continual Improvement Actions that have been initiated...neat, tidy, readily accessible....Sr. Management knows right where to go to answer the auditor's question..."What Continual Improvement projects have you undertaken since the last audit?" and "Can you show me some of them?"
It's almost idiot-proof!
You're on the money - see attachments BVQi Interpretations, and XLP quiz.