ISO 31000 Risk Management Standard
International standard providing principles, framework, and process for managing risk. Applicable to any organization regardless of size or sector.
ISO 31000:2018 Risk Management
Overview
ISO 31000 provides a universal approach to managing any type of risk. It is not industry-specific and can be customized to any organization.
Key Principles
- Integrated - Risk management is part of all organizational activities
- Structured and Comprehensive - Contributes to consistent and comparable results
- Customized - Framework and process are tailored to context
- Inclusive - Stakeholder involvement enables consideration of different views
- Dynamic - Anticipates, detects, and responds to changes
- Best Available Information - Based on timely and clear information
- Human and Cultural Factors - Recognizes capabilities, perceptions, and intentions
- Continual Improvement - Enhanced through learning and experience
Risk Management Framework
- Leadership and Commitment
- Integration
- Design
- Implementation
- Evaluation
- Improvement
Risk Management Process
- Communication and Consultation
- Scope, Context, and Criteria
- Risk Assessment (Identification → Analysis → Evaluation)
- Risk Treatment
- Monitoring and Review
- Recording and Reporting