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Universal application.

The International Standard ISO 31000:2009 provides principles and generic guidelines on risk management.  It can be used by any public, private or community enterprise, association, group or individual and is not specific to any industry or sector.  The standard can be applied throughout the life of an organization, and to a wide range of
activities, including strategies and decisions, operations, processes, functions, projects, products, services and assets.  It can be applied to any type of risk, whatever its nature, whether having positive or
negative consequences.

                                                                                                                     ©ISO 2009 - All rights reserved

                                                                                                                  
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A framework for risk management.

The success of risk management will depend on the effectiveness of the management framework providing the foundations and arrangements that will embedded throughout the organization at all levels.  The ISO 31000:2009 provides guidelines to assists in managing risks effectively through the application of the risk management process  at varying levels and within specific contexts of the organization.  The framework ensures that information about risk (derived from the risk management process) is adequately reported and used as a basis for decision making and accountability at all relevant organizational levels.

©ISO 2009 - All rights reserved
                                                                                                       

  

 

The process for risk management.

The seven step process is systematic by nature yet dynamic in application.  The ISO 31000:2009 process prescribes the importance of communication and consultation throughout the process of establishing the context, risk assessment, and treatment of risk.  It also emphasizes  the need to monitor and review all steps throughout the process.   

                                                                                                                      ©ISO 2009 - All rights reserved
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