The importance of the ISO 31000 (risk management) in an organization cannot be over emphasized. The reason is pretty simple; risk is a necessity in doing business.
Helping your organization develop accurate risk management strategy will only help you seal your place among the top organizations today.
In 2020, the ISO 31000 certification is a must have. In a world with an ever increasing data to process, the ability to identity and alleviate company risk is becoming increasingly difficult. The ISO 31000 certification offers you the ability and necessary tools to navigate an increased data load in order to identify and manage company risk.
The ISO 31000:2018 was revised in February 2018 and it contains the key drivers of risk management as well as many other management principles. Each section of the ISO 31000 was revised for clarity with the use of simple languages for better understanding for anyone and everyone.
Why you Should Have an ISO 31000 Certification?
The ISO 31000 certification provides guidelines and solutions for organizational management risk. Here are some of the benefits of being ISO 31000 certified.
The ISO 31000 guidelines and solution can be customized to fit any and every kind of organizational structure.
It provides seamlessly common approaches to the management of any type of organizational risk.
It is not industry or sector specific.
ISO 31000 can be used throughout and entire organizational structure which includes decision making at every level.
It emphasizes proper implementation.
Main Changes From Previous The Previous Edition of ISO 31000:2018
ISO 31000:2018 was last updates with the ISO 31000:2013 as an effort to make this standard more relevant. Major changes which have occurred since then includes the following
Reviewed principles of company risk management
A revised focus on leadership with focus on top management ensuring risk management is combined into all organizational activities
A revised approach on content streamlining focused on the sustenance of an open system model which fits several needs and framework
Revised risk management experiences and a greater emphasis on the frequentative nature
ISO 31000 Evaluation process
The evaluation process for this certification includes;
Risk identification: The identification of risk source, its area of impact, causes, consequences, its source and potential events
Risk Analysis: Assessment of likelihood and evaluation of control system
Risk evaluation: decision made for risk assessments, party requirements as well as risk comparison.
What to Expect in ISO 31000
ISO 31000 certification constitutes a concise and clear approach to help stakeholders, organizations and individuals management risk. The ISO 31000 standard packs impeccable benefits and knowledge geared at helping your profit grow.
The outline contains;
Definition of significant terms
Principles or risk management
The framework to help you implement and integrate the knowledge into any business, industry and sector.
Risk management process
Risk management is and forever will be a major player in all field of business. Would you like to make the most of risk management or not? If no, the choice is yours. If yes, then the ISO 31000 certification is all you need.