RISK MANAGEMENT

ISO 31000 - RISK MANAGEMENT

STEIA RISK MANAGEMENT SERIES

Risk management, are coordinated activities to direct and control an organization with regard to risk.

Risk is the effect of uncertainty on objectives

Risks are best managed by people following a defined risk management process. In large organizations there could be many groups and many processes, each with its own scope, meetings, documents and methods. This could be because they are working at different management levels in the organization and have different perspectives, are working in different organizational sub-units, or are focusing on different types of risks.

If risk is the combination of opportunities, threats and future uncertainty, then risk management is an essential discipline for informed decision-making within all organizations.

The approach recommended here is to provide an outline risk management process that can be followed and interpreted so that each group works in a way that is appropriate for them, and there is consistency and communication across the organization.

Each example of a risk management process within an organization is called an instance of the risk management process. The outline risk management process is just one component of a broader risk management framework that also contains activities to govern one or more instances of the risk management process and to drive improvements over time.

The purpose of the risk management framework is to assist the organization in integrating risk management into significant activities and functions. The effectiveness of risk management will depend on its integration into the governance of the organization, including decision-making. This requires support from stakeholders, particularly top management.

31000.EN.101

ISO 31000 - Risk Management

Course developed in accordance with :

This course is for use by people who create and protect value in organizations by managing risks, making decisions, setting and achieving objectives and improving performance.

Organizations of all types and sizes face external and internal factors and influences that make it uncertain whether they will achieve their objectives.

This course provides guidelines on managing risk faced by organizations. The application of these guidelines can be customized to any organization and its context. This course provides a common approach to managing any type of risk and is not industry or sector specific. This course can be used throughout the life of the organization and can be applied to any activity, including decision-making at all levels.

The purpose of risk management is the creation and protection of value. It improves performance, encourages innovation and supports the achievement of objectives.

Managing risk :

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31000.EN.100

ISO 31100 - Risk Management - Implementation

Course developed in accordance with :

This course gives recommendations for implementing the principles and guidelines on risk management

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