• Governance I Risk I Compliance Management

ISO 31000 Risk Management Playbook

April 28, 2022

Managing risk effectively is essential to ensure businesses succeed and thrive in an environment of constant uncertainty. ISO 31000 aims to simplify risk management into a set of clearly understandable and actionable guidelines, that should be straightforward to implement, regardless of the size, nature, or location of a business.

ISO 31000 is an international standard issued in 2009 by ISO (International Organization for Standardization). All types and sizes of organisations face internal and external factors that directly impact whether an organisation can achieve their objectives or not. ISO 31000:2018 serves as a guide for the design, implementation and maintenance of risk management, ISO 31000:2018 describes a systematic and logical process, during which organisations manage risk by identifying it, analysing it, and then make a determination as to mitigating the risk treatment in a way that is consistent with their risk appetite. An organisation can implement risk management across the entire company, and it can do so at any time. It can also tailor these controls to specific areas and activities in the business. There are many benefits of ISO 31000:2018 Risk Management Standard:

  • Can be used by organisations to compare their risk management practices with an internationally recognised benchmark, providing sound principles for effective management and corporate governance.
  • Is a clear indicator to your customers, and other stakeholders that as an organisation, you are committed to managing risks in every part of your business
  • Increases public confidence in the organisation as it demonstrates your management capabilities in protecting your business from internal and external threats.
  • ISO 31000:2018 Certification helps to provide guidance for internal or external audit programmers.
  • In competitive bidding for commercial tenders, it will enhance your company’s reputation and give you a competitive advantage.

This playbook covers everything you need to know about ISO 31000:2018; here’s a quick rundown of the playbook structure:

  • What is ISO 31000?
  • Why is this Standard a good idea?
  • What are the benefits for my business?
  • Principles of ISO 31000:2018
  • ISO 31000 framework
    • Why was it revised?
    • What are the main differences?
  • Key Clauses of 31000:2018
  • Who is the standard for?
  • The process
  • The link between 31000:20180 and other standards
  • Importance of risk management leadership
  • 31000:2018 and continuous improvement
  • How do we get started?

To download your FREE “ISO 31000:2018 Risk Management: A guide to identify, analyse and mitigate risk” playbook, please CLICK HERE!