ISO 31000 OUTLINES
Scope: ISO 31000 provides generic guidelines for risk management that can be applied to any organization, regardless of its size, type, or sector.
Principles: This section outlines the fundamental principles of risk management, including integrating risk management into the organization’s processes, customizing risk management to the organization’s context, and ensuring a systematic and structured approach to risk management.
Process: This section describes the risk management process, which consists of five steps: communication and consultation, establishing the context, risk assessment, risk treatment, and monitoring and review. Each step is explained in detail, including the activities, inputs, and outputs involved.
Integration: ISO 31000 emphasizes the integration of risk management into the organization’s overall governance, planning, decision-making, and performance management processes. It highlights the importance of aligning risk management with the organization’s objectives and ensuring that risk management becomes an integral part of the organization’s culture.
Implementation: This section provides guidance on implementing risk management, including establishing accountability and responsibility for risk management, ensuring appropriate resources and competencies, and promoting risk awareness and communication within the organization.
Evaluation: It emphasizes the need for ongoing monitoring and review of the effectiveness of the risk management process, including the performance of risk treatments and the overall risk management framework. It also highlights the importance of learning from experience and continuously improving the risk management practices.