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ISO 31000:2018 provides principles, framework and a process for managing risk. Public, private and community enterprises can all benefit from ISO 31000:2018 because it covers most business activities, including research, planning, management and communications.

Implementing ISO 31000:2018 can help organisations increase the likelihood of achieving objectives, improve the identification of opportunities and threats and effectively allocate and use resources for risk treatment.

Benefits of ISO 31000:2018 Standard

  • It 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.
  • It 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.
  • It increased public confidence in 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.

FACTS

“According to a Transparency International study, 27% of the 3,000-business people surveyed reported that they had lost business due to bribery by their competitors. ”

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