I refer to pigs in my HACCP meetings all the time. I have only ever used it when assessing the risk of microorganisms and not other types of hazards.
P = The presence of a microorganism. Consider how you control materials when they enter your facility, is it possible that materials have microorganisms present.
I = Introduction of microorganisms. Microorganisms may not be present when the material is received but after storage and employee handling it possible that microorganisms have been introduced. (dirty hands, roof leaks)
G = Growth of microorganisms. If microorganisms or present or introduced, will it grow? Does it need to be refrigrated to prevent growth? What is the water activity? What prerequisite programs or preventative controls are in place?
S = Survival of microorganisms. Does the production process have a kill step? Is one needed?
My products and processes are very low risk and the water activity is extremely low. My HACCP Team has the bad habit of thinking that microorganisms are not a risk because of this. I frequently have to remind them about pigs.
Our supplier approval program, material inspection and storage procedures reduce the risk of P. Ingredient testing/analysis verifies this. GMP's, internal audits and environmental testing (among other programs) control and reduce the risk of I. Our water activity and storage conditions combined with the nature of our product control G. We do not have a kill step at our facility, but depending on your product and process you may need one.
I do not use PIGS to directly determine if a CP or CCP is required. I only use it to aid in critical thinking and to conduct hazard assessments. How is each letter of PIGS controlled, can we validate why a control would not be necessary? etc..