ISO 31000

Introduction

International Organization for Standardization (ISO) 31000 is a family of risk management standards which provides a foundation level “practitioner's” view of risk management.

This global standard was first published in 2009, based on a standard originally developed by the Australian/New Zealand standards organisation.

The ISO 31000 standard is perhaps the most commonly and widely used risk management approach. It was recently updated to a 2018 version.

The ISO standard is a useful foundation overview of risk management. For complex, advanced or highly specialised projects or applications, other approaches to risk may be considered.

Methodology

The ISO 31000 standard recommends the following steps in the risk management process:

• Establishing the Context
• Risk Assessment
• Risk Treatment
• Monitoring, Auditing, Review and Improvement
• Risk Communication

Sources

The content on this page was primarily based on:

• Webinar titled ‘Perspectives on Risk: Engineers, frameworks and new ways of thinking’, delivered to REBOK Community on 29 May 2018 by Warren Black, Principal and Founder, Complexus