ISO 31000

ISO 31000 is an international risk management standard. It can be
used by any organization at a strategic or organizational level regardless of its type, activity or size. It can be applied towards the achievement of any and all types of
objectives at all levels and areas within an organization related to the risk. It can be used to help manage processes, operations, functions, projects, programs, products, services, and assets. ISO 31000 defines a set of guidelines.

ISO 31000 is used by a wide range of stakeholders, including people who need to:

Establish a risk management policy.
Ensure that risk is managed properly.
Manage and control risk within an organization.
Evaluate risk management practices and processes.
Develop risk management procedures and guides.

Benefits

When properly implemented and applied, ISO 31000 will help you to:

1. Better organizational ability to identify threats and opportunities.

2. Encourage personnel to identify and treat risk.

3. Help you allocate and use risk treatment resources.

4. Develop your risk management controls.

5. Improve loss prevention and incident management activities.

6. Improve the overall resilience of your organization.

7. Increase the likelihood that risk related objectives are achieved.

8. Improve operational efficiency and effectiveness.

9. Improve the effectiveness of your governance activities.

10. Improve your organization’s environmental, health and safety performance.

11. Encourage and support continuous organizational learning.

12. Comply with legal and regulatory requirements.

13. Improve the trust and confidence of your stakeholders.

14. Enhance both mandatory and voluntary reporting.