ISO 31000:2018 - RISK MANAGEMENT
What is ISO 31000:2018 -RISK MANAGEMENT?
Organizations that manage risks effectively are more likely to protect themselves and succeed in growing their business. The challenge for any business is to integrate good practice into their day-to-day operations and apply it to the wider aspects of their organizational practice.
ISO 31000 is the international standard for risk management. By providing comprehensive principles and guidelines, this standard helps organizations with their risk analysis and risk assessments. Whether you work in a public, private, or community enterprise, you can benefit from ISO 31000, because it applies to most business activities including planning, management operations, and communication processes.
Whilst all organizations manage risk to some extent, this international standard’s best-practice recommendations were developed to improve management techniques and ensure safety and security in the workplace at all times.
Benefits of ISO 31000:2018 Certification
Who can be certified ISO 31000:2018?
Guidelines, provide principles, a framework, and a process for managing risk. It can be used by any organization regardless of its size, activity, or sector. Using ISO 31000 can help organizations increase the likelihood of achieving objectives, improve the identification of opportunities and threats and effectively allocate and use resources for risk treatment.
Document required for ISO 31000
The extent of Documented Information differs as per:
Role of Shamkris and Process of ISO 31000 - Risk Management
Shamkris adopts a results-oriented approach to effective system implementation in the organization. A simple and practical method of system implementation helps organizations increase business efficiency and sustainability. Shamkris supports 100% documentation to obtain a certificate of success in addition to enhanced performance.
The implementation process is described below:
Implementing Management System
Year on Year
The standard is structured into principles (11 attributes of RM), a framework with five components (mandate, plan, implementation, checks and improvement), and process (communication and consultation, context, risk assessment, treatment and monitoring)
ISO 31000:2009 describes a systematic and logical process, during which organizations manage risk by identifying it, analyzing and then evaluating whether the risk should be modified by risk treatment in order to satisfy their risk criteria.
Risk for ISO 31000 is defined as “the effect of uncertainty” on business objectives. This effect can be both positive or negative.