Risk Management - Buffalo Rochester NY
Risk Management - Buffalo Rochester NY
Risk Management - Buffalo Rochester NY
Risk Management - Buffalo Rochester NY

ISO 31000 – Risk Management

ISO 31000 Risk Management Consulting

The ISO 31000 standard can be used to identify risks and opportunities as well as improve the allocation of assets for risk management.  Risk management’s goals should be to create value and protect that value.  It should be part of all processes and decision-making throughout a firm.

ISO 31000 goals include:

  • Handle uncertainty
  • Timely and methodical
  • Based off quality data
  • Firm-specific i.e. tailored to a company’s specific needs
  • Considers all factors
  • How can each factor hamper or ease the achievement of an objective
  • Be transparent and inclusive
  • Be dynamic and always improving
  • Responses to risk should be fast and always account for changes in a risk environment

ISO 31000 benefits include:

  • Principles/guidelines for risk management
  • Useable for companies of all size, industry or sector
  • Applicable to all parts of a company, including:
  • Strategy
  • Procedures
  • Operations
  • Products
  • Assets
  • ISO 31000 is applicable to all forms of risk
  • Does not encourage companies to follow similar risk management rules, but rather guidelines to create an organization-specific risk management system
  • Designed to harmonize current and future risk management systems

Starting with ISO 31000 risk management principles and guidelines:

  • Define a risk management policy
  • Identify proper risk management performance indicators
  • Set the goals of risk management
  • Assign responsibilities in risk management and properly allocate resources
  • Clearly convey benefits to risk management

A good risk management system involves:

  1. Constant review and oversight
  2. Context establishment
    • Communication and discourse
  3. Risk assessment
    • Risk identification with constant communication and discourse
    • Risk analysis with constant communication and discourse
    • Risk evaluation with constant communication and discourse
  4. Risk Treatment
  5. Risk Monitoring

ISO 31000 Consulting

To learn more about our ISO 31000 risk management consulting services, please contact one of our ISO 31000 certification consultants at 716-847-2651 or use the contact form at the bottom of this page and one of our team members will be in touch soon.