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 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
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
Edited by Nadine Cranenburgh