A collection of helpful guides to help you improve your understanding of specific standards and their impacts on your business.
ISO 31000 is designed to be used in conjunction with other ISO management system standards, such as ISO 9001 for quality management and ISO 14001 for environmental management or ISO 27001 for information security.
This ISO standard seeks to help organisations:
It defines techniques, and processes necessary for an organisation to manage risks effectively. These include:
Can help your organisation in several ways, including:
By adopting this standard, your organisation will have a systematic and structured approach to risk management, which will help you understand the importance of managing risks in your organisation.
A strong risk management framework enables your organisation to make risk-based decisions and informs your leadership team about the business context. By being able to rely on a well-thought out and structured risk assessment, you empower your people and protect your organisation’s future.
Can help increase stakeholder confidence in your organisation’s ability to manage risks effectively. This can be particularly important for investors, customers, and regulators who may be more likely to do business with or invest in organisations that can demonstrate effective risk management.
By managing risks proactively, your organisation can avoid or minimise disruptions to its operations. This can help reduce costs, increase productivity, and improve overall performance.
Effective risk management can help your organisation build a reputation for being a responsible and reliable business partner. This can help attract and retain customers, employees, and investors, and increase your organisation’s standing in the market.
The scope covers the entire risk management process, from risk assessment to risk treatment.
The standard applies to all types of risks, including financial, operational, strategic, and reputational risks. It is suitable for organisations of all sizes and industries, including public and private sector organisations, as well as non-profit organisations.
This standard provides a number of key terms and definitions to ensure a common understanding of risk management concepts. Some of the key terms include:
Risk management tool that enables you to identify, assess, and treat risks in a systematic and structured way. This tool includes risk assessments, risk registers, risk treatment plans, and risk reporting features, all of which can help your organisation to meet the requirements of ISO 31000.
Inverifi provides a centralised platform for managing all your documentation, including policies, procedures, and reports. This can help you to maintain an audit trail and ensure that all documentation is up to date and easily accessible.
Inverifi provides a reporting feature that enables you to track and monitor your organisation’s risk management performance. Visual reporting of risk quantity as well as see a breakdown of the likelihood, severity and impact scores.