Risk assessment provides a quantitative technique for picking the Corrective Actions you need to work on now and the ones you can leave to later. Using a rating of probability and severity (and optionally detectability), supported by clearly documented guidelines, you can calculate a risk level for each Corrective Action. With this information, you can set a risk threshold for determining which Corrective Actions to work on. Complete all those Corrective Actions first, regardless of their issue date or "priority" level, before moving to lower-risk Corrective Actions.
By defining a risk threshold that is acceptable to management, but limits the number of Corrective Actions to a manageable number, you can demonstrate high-value successes in the Corrective Action process that will result in increased participation and motivation for future improvements.