ISO 31000 is an international standard that provides principles and guidelines for risk management. It outlines a comprehensive approach to identifying, analyzing, evaluating, treating, monitoring and communicating risks across an organization.

ISO 31000 provides a set of principles, guidelines for the design, implementation of a risk management framework and recommendations for the application of a risk management process. The risk management process as described in ISO 31000 can be applied to any activity, including decision-making at all levels.

ISO 31000:2009 describes a systematic and logical process, during which organizations manage risk by identifying it, analyzing and then evaluating whether the risk should be modified by risk treatment in order to satisfy their risk criteria.

The purpose of risk management is the creation and protection of value. It improves performance, encourages innovation and supports the achievement of objectives. The principles outlined in Figure provide guidance on the characteristics of effective and efficient 2 risk management, communicating its value and explaining its intention and purpose.

ISO 31000 helps organizations develop a risk management strategy to effectively identify and mitigate risks, thereby enhancing the likelihood of achieving their objectives and increasing the protection of their assets.

Managing risk is iterative and assists organizations in setting strategy, achieving objectives and making informed decisions. Managing risk is part of governance and leadership, and is fundamental to how the organization is managed at all levels. It contributes to the improvement of management systems.

Risk management - the basics. Equip your organization with comprehensive risk management tools using our ISO 31000 standards bundle. ISO 31000:2018; IEC 31010:2019; ISO 31000:2018 Handbook

Apr 18, 2024 · ISO 31000:2018 Risk management — Guidelines is an international standard that provides principles, a framework and a process for managing risk. It can be used by any organization regardless of its size, activity or sector.

ISO 31000 serves as a comprehensive guide for effective risk management. Its flexible principles and structured framework help organizations address uncertainties, reduce potential losses, and enhance decision-making.

Jul 31, 2017 · ISO 31000 is an international standard that provides principles and guidelines for effective risk management. It outlines a management philosophy where risk management is seen as an integral part of strategic decision-making and the management of change.