The ISO 31000 risk management system is a framework designed to help organisations build a systematic approach to the management of its risk. Developed by the International Organization for Standardization or ISO and first published in 2009, it was created in order to help develop standard ways for organisations to perform specific business risk management processes. By establishing a set of recognisable guidelines or frameworks for any business to follow, the ISO management standards give organisations a much better chance of being successful.
ISO has developed standards for many different management systems covering lots of industry sectors; size, type and structure of organisation. One important thing to note however is that the standards they have developed have been intentionally created to be as generic as possible, this way they can be applied as an overriding framework across a wider cross-section of businesses and sectors.
This article discusses one specific ISO standard called ISO 31000 – Risk Management System and how organisations can benefit from using this framework.
What is ISO 31000?
ISO 31000 is a management standard that was developed as a set of generic guidelines and frameworks that show an organisation how to implement a systematic approach to risk management. The ISO 31000 standard was created in a way that allows it to be implemented in conjunction with other ISO standards and an organisations existing risk management plan.
This ISO standard was intentionally designed to be as generic as possible. It can easily be adapted to any public or private organisation, or business large or small that is looking for ways to make changes to improve its management of risk.
The ISO 31000 family
The ISO 31000 family consists of a number of standards as follows:
Principles and Guidelines covering implementation
Risk Management – Risk Assessment Techniques
ISO Guide 73:2009
Risk Management vocabulary
This ISO risk management standard was designed to be used by a wide range of stakeholders within any organisation including the following:
- Members of the executive level
- Members of the company risk management team
- Appointed risk analysts and management officers
- Any middle management and project managers
- Internal auditors for compliance purposes
- Independent practitioners
Who would benefit from the ISO 31000 standard?
The good thing about how the standard was originally developed is that it was created in a way that makes it possible for it to be tailored to fit with any business type, industry sector, public or private organisation that might be interested in taking advantage of what it has to offer. So any size business, large or small would get the same risk management benefits no matter what industry they operate in.
World-class risk management frameworks
Quality Management Systems deliver world-class risk management frameworks, auditing, training and software solutions to organisations wishing to enhance their management or risk, and achieve ISO 31000 certification quickly and efficiently.
If you would like to learn more about our risk management systems, and how we can help you develop world-class processes please get in touch today.
More information about the ISO 31000 … here →
Clients, associates and others who found this useful
Ken Sproul Singer – Toronto
Toronto singer-songwriter. Become a fan!
Global Warming: Agree or Disagree
Global warming is the rise in the average temperature of Earth’s atmosphere and oceans since the late 19th century and its projected continuation. Since the early 20th century, Earth’s mean surface temperature has increased by about 0.8 °C (1.4 °F), with about two-thirds of the increase occurring since 1980. Warming of the climate system is unequivocal, and scientists are more than 90% certain that it is primarily caused by increasing concentrations of greenhouse gases produced by human activities such as the burning of fossil fuels and deforestation.
Dr. Robert McClure
He graduated from the University of Toronto with a Bachelor of Medicine in 1922. In 1923, he was appointed a medical missionary to Henan, China and served until 1948. He was the only medical missionary in India and China who was able to provide radium treatment for cancer. He was also on the staff of the Church Missionary Society Hospital at Gaza, Palestine
Cast Antler Chandeliers, Rustic / Antler Ceiling Fan from CastAntlers
CastAntlers specializes in cast antler chandeliers and rustic/antler ceiling fans.
Organic Gift Baskets | Organic Food Gifts | Healthy Gourmet Gifts
Our unique organic gift baskets are filled with premium quality certified organic savoury foods, sweet treats, ready to eat and gourmet pantry essentials. You can feel good sending an organic food gift basket from Healthy Gourmet Gifts knowing that your gift has been kinder to the planet and is of a superior quality for your friend, relative or business associate. Send an Organic gift basket from Healthy Gourmet Gifts, great taste and pure decadent enjoyment. Order online and send your best wishes across Canada.
Shop securely at Healthy Gourmet Gifts.
Call them at 1 800 735 0695 for custom stone work in DFW
Action Stone and Concrete Dallas-Fort Worth, TX. Custom stone work, outdoor living areas, patios, Dallas concrete contractors, stamped or stained concrete, slabs, Dallas retaining walls, pavers, natural stone Dallas-Fort Worth TX.
J Vincent Concrete
Concrete contractors in Philadelphia – J. Vincent Inc. Specialists in stamped concrete offering commercial and residential concrete solutions in the greater Philadelphia area.