ISO/IEC 31000 - Risk Management (ISO 31000)
Risks, if ignored, can bring disaster and extremely negative impacts on business smoothness of any organizations. Most common consequences are lower economic resources, negativity in general reputation, environmental, legal and societal outcomes. Therefore, effective risk management helps organization to do the best in uncertain and risky business conditions.
ISO 31000 Standard provides guidelines, framework and principles for effectively managing risks. This standard can be used in any organization, either it's small, medium or large organization, private or government sector etc.
By using ISO/IEC 31000 - Risk Management Standard can help organizations in achieving goals, improving the ability of finding more opportunities, effective usage of resources, promptly identifying threats and taking necessary actions to manage risks.
ISO 31000 guides in internal and external audit programs, but can't be used for certification purposes. Organizations that are using ISO/IEC 31000 - Risk Management Standard can compare their risk management abilities and practices with internationally set benchmark, which ultimately helps in achieving effective and corporate management.