ISO 31000:2018 Enterprise Risk Management by Greg HutchinsWhat is ISO 31000: Enterprise Risk Management?
International Organization for Standardization (ISO) developed ISO 31000 as its risk management guideline for its management system standards. More than 60 countries have adopted ISO 31000 as their national risk management standard. ISO 31000: Enterprise Risk Management is the first book to address: ISO Enterprise Risk Management, risk based, problem solving, risk based, decision making, Risk Based Thinking, and governance, risk, and compliance requirements. Everyone who is certified to ISO 9001:2015 needs to read this book to understand and implement Risk Based Thinking in ISO 9001:2015 and newer ISO standards.
What This Book Can Do for You?
•Describes how you can architect, design, deploy and assure risk controls that are appropriate to your organization’s context and risk appetite?
•Supports executive management with operational governance, risk management, and compliance (GRC).
•Identifies emerging and current risks so plans can be developed to control, manage, and mitigate risks.
•Identifies emerging and current opportunities so appropriate investments can be pursued.
•Increases the probability of success in achieving the organization’s strategic plan and mission critical objectives
•Explains key risk concepts such as RBT, risk management assessment, risk management, VUCA, risk context, Risk Maturity, etc.
•Explains and gives examples of ISO 31000 risk management principles and risk management framework.
•Explains in detail ISO 31000, ISO 31010, and other key risk standards.
•Provides an example of an ISO 31000 risk management process that you can design and deploy in your organization based on context and maturity.
•Determines clear accountability, ownership, and responsibility of risk throughout the organization.
•Supports leaning, simplification, and innovation strategies to ensure optimized use of resources.
ISO 31000 – Risk Management and how it can help an organization
ISO 31000 Risk management
The update, which replaced the prior version from , provides:. A renewed focus on the key leadership role that boards and top management must play in ensuring that risk management is fully integrated at all levels of the organization; and. Greater attention to the cyclical and iterative nature of risk management, which underscores the notion that organizations must evaluate their risk management process in light of new information or in response to feedback about gaps that might be present in the current risk process or associated controls. In a world where standards often weigh in at hundreds of pages, the 16 pages of ISO constitute a succinct and concentrated guide to help organizations improve the way they manage their risks. The document, which can be read in about one hour, consists of four major sections:. While ISO is far from the only document covering enterprise risk management , one would be hard-pressed to find a more succinct set of principles for implementing and evaluating a risk management process.
Risk management — Guidelines
ISO is a family of standards relating to risk management codified by the International Organization for Standardization. The purpose of ISO is to provide principles and generic guidelines on risk management. ISO seeks to provide a universally recognised paradigm for practitioners and companies employing risk management processes to replace the myriad of existing standards, methodologies and paradigms that differed between industries, subject matters and regions. Currently [ when? ISO was published as a standard on 13 November , and provides a standard on the implementation of risk management. The purpose of ISO is to be applicable and adaptable for "any public, private or community enterprise, association, group or individual. It began the process for its first revision on May 13,
ISO provides guidelines on managing risk faced by organizations. The application of these guidelines can be customized to any organization and its context. ISO provides a common approach to managing any type of risk and is not industry or sector specific. ISO can be used throughout the life of the organization and can be applied to any activity, including decision-making at all levels. Check out our FAQs.