ISO 31000 - Risk Management Framework

Every organization faces influences of some internal and external factors that have the tendency of making it uncertain whether it will achieve its objectives and goals. The uncertainty that the organization has is termed as “risk.”

Every single activity that is carried out in the organization has some risks.

The organization manages all the risks after identifying, analyzing and thorough evaluation whether the risks need to be modified through risk treatment so that it could satisfy the criteria for risks.

Throughout the risk process, organizations communicate, have consultation with the stakeholders, and monitor and review all the risks and controls so it could ensure that there is no need of risk treatment. The ISO 31000 risk management framework describes this entire international standard in a systematic way.

Risk managers, safety and health managers, environmental managers, project managers, production/operations managers, quality managers, facilities managers, environmental managers, administration managers, human resource managers, etc.

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Framework

• General
• Commitment and Mandate
• Designing the Framework for Risk Management
• Implementation of Risk Management
• Reviewing and Monitoring of the Framework
• Continual Improvement of the Framework

Process

• General
• Communication and Consultation
• Establishing the Context
• Assessment of Risk
• Risk Treatment
• Reviewing and Monitoring
• Recording of Risk Management Process

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