Aimed at achieving an appropriate balance between realizing opportunities and gains, while minimizing losses. Organizations that manage risks effectively are more likely to protect themselves and succeed in growing their business. The challenge for any business is to integrate good practice into their day-to-day operations and apply it to the wider aspects of their organizational practice.
What is ISO 31000?
ISO 31000 is the international standard for risk management. By providing comprehensive principles and guidelines, this standard helps organizations with their risk analysis and risk assessments.
Whether you work in a public, private or community enterprise, you can benefit from ISO 31000, because it applies to most business activities including planning, management operations and communication processes. Whilst all organizations manage risk to some extent, this international standard’s best-practice recommendations were developed to improve management techniques and ensure safety and security in the workplace at all times.
By implementing the principles and guidelines of ISO 31000 in your organization, you’ll be able to improve operational efficiency, governance and stakeholder confidence, while minimizing losses. This international standard also helps you to boost health and safety performance, establish a strong foundation for decision making and encourage proactive management in all areas.
*Note: ISO 31000 is a non-auditable standard
What is the objective of AS/NZS ISO 31000 Risk Management?
The objective of this Standard is to provide guidance to enable public, private or community enterprises, groups and individuals to achieve:
- A more confident and rigorous basis for decision-making and planning
- Better identification of opportunities and threats
- Gaining value from uncertainty and variability
- Pro-active rather than re-active management
- More effective allocation and use of resources
- Improved incident management and reduction in loss and the cost of risk, including commercial insurance premiums
- Improved stakeholder confidence and trust
- Improved compliance with relevant legislation
- Better corporate governance
What are the benefits?
- Proactively improve operational efficiency and governance
- Build stakeholder confidence in your use of risk techniques
- Apply management system controls to risk analysis to minimise losses
- Improve management system performance and resilience
- Respond to change effectively and protect your business as you grow
Whether you’re starting your business improvement journey, or looking to enhance current knowledge and capabilities, contact our expert team who will be able to give advice and guidance about options that will enable you to meet your goals.