What is ISO 31000?
ISO 31000 is an international standard for Risk Management that provides a
set of principles, a Risk Management framework and process, which help
organizations take a proactive approach to risks that they face. ISO 31000
helps organizations to develop, implement and continuously improve a
framework that aims to integrate Risk Management strategies into the
overall organizational processes including decision-making. The Risk
Management process involves following five steps that identify
circumstances, detect risk-associated hazards, assess and determine the
risk, control evaluated risks and review the impact of the risks.
This international standard is important if you are interested in providing
yourself with comprehensive guidelines that will help your organization
strengthen its indecision-making process and overall management. ISO 31000
is intended to simplify the task of governing complex situations that
require crucial decisions to be made towards a structured approach of
identifying and judging risks.
ISO 31000: Standards History and Updates:
The first ISO 31000 standard was published on November 13, 2009. Its
purpose at that time was to provide principles and generic guidelines on
Risk Management, seeking to provide a common approach to Risk Management
processes in support of standards dealing with specific risks (without
replacing those standards). However, the 2009 version of ISO 31000 did not
intend to promote uniformity of Risk Management across organizations.
The updated version of ISO 31000 was released on February 2018, replacing
the ISO 31000:2009.
The revised standard delivers a clearer, shorter, and more concise guide
that will help organizations make better decisions. It emphasizes the
integration of Risk Management within the organization, and the role and
responsibility of leadership. ISO 31000:2018 uses a simpler language, thus
making it accessible to all stakeholders.
Definition of Risk:
ISO 31000:2018 defines risk as the “effect of uncertainty on
objectives”. It focuses on any deviation (positive, negative, or both)
from the expected outcomes which can create or result in opportunities and
threats. At the same time Risk Management is defined as ‘’coordinated
activities to direct and control organization with regard to risk’’.
On a wider spectrum, the definition of Risk Management is to establish a
coordinated and economical application of resources that reduce, monitor
and regulate the probability and impact of unfortunate events. Managing
risk is crucial for organizations - it helps to establish necessary steps
so to remain resilient and develop a plan of action and strategies which
can eliminate or reduce the impacts of risks.
Why ISO 31000 Risk Management is important for you?
ISO 31000 will guide you toward identifying potential risks that could
endanger the achievement of crucial objectives; it will help you to
determine which risks are essential to take in order to achieve primary
objectives before they affect the business, while effectively keeping all
other risks under control.
Furthermore, becoming ISO 31000 certified proves that you have undergone
the proper professional training; further advancing your risk management
and risk identification skills. Nonetheless, helping you to formulate and
correctly implement strategies and solutions to improve and protect the
needs of the organization. Attending our training courses will be
beneficial for you because it makes you more marketable to employers, as
nowadays professional certifications are crucial.
What is ISO 31000 Certification?
This training course enables individuals to comprehend fundamental concepts
about Risk Management and understand the importance and benefits that can
be obtained by this standard. Those who should attend are individuals who
are interested in understanding the processes and strategies of Risk
Management.
Being ISO 31000 certified means that you are protecting your organization
from potential risks that could endanger the operational efficiency,
governance, and stakeholders’ confidence. The ISO 31000 training course
will provide support and allow you to identify opportunities, threats and
risks. It will help strengthen and achieve the strategic objectives of your
organization by establishing a risk-based system of values.
Benefits of ISO 31000 Risk Management:
The implementation of ISO 31000 improves operational efficiency,
governance, and stakeholder confidence in your organization, while
minimizing losses and enhancing risk analysis and risk assessment
capacities. It helps integrate a risk-based decision-making in the culture
of your organization.
Moreover, the integration of the ISO 31000 framework within an organization
ensures the consistency and the effectiveness of management across all its
areas such as IT, HR, compliance, quality, health and safety, business
continuity, etc.
It is important to mention that the ISO 31000 guidelines are applicable to
any activity of an organization, and can be customized by any organization
and its context.
PECB Certified ISO 31000 individuals involved in risk management process of
an organization will enable the organization to:
• Gain competitive advantage – enhanced risk management will support
achieving goals and objectives
• Reduce costs through proper risk management
• Respond to change effectively and find viable solutions
• Create and protect value
• Increase the likelihood of achieving objectives
• Productively identify the opportunities and threats
• Identify and mitigate the risk throughout the organization
• Gain stakeholder confidence and trust
• Create a consistent basis for decision making and planning
ISO 31000 Lead Risk Manager
Why should you attend?
ISO 31000 Lead Risk Manager training enables you to acquire the expertise
to support and lead an organization and its team to successfully identify,
understand and manage a risk process based on ISO 31000. During this
training course, you will also gain comprehensive knowledge of the best
practices used to implement a Risk Management framework that provides the
foundation for designing, implementing, monitoring, reviewing and
continually improving a Risk Management process in an organization.
After mastering all the necessary concepts of Risk Management, you can sit
for the exam and apply for a “PECB Certified ISO 31000 Lead Risk
Manager” credential. By holding a PECB Certificate, you will be able to
demonstrate that you have the professional capabilities and competencies to
effectively manage a risk process in an organization.
Who should attend?
• Managers or consultants seeking to master their skills to support an
organization during the implementation of an organization-wide Risk
Management framework and process based on the principles and
recommendations of ISO 31000
• Professionals responsible for the creation and protection of value in
organizations through effective management of risks
• Expert advisors seeking to gain comprehensive knowledge of the key
concepts, processes and strategies of Risk Management
• Risk Management team members
Learning objectives:
• Acknowledge the correlation between ISO 31000, IEC/ISO 31010 and other
standards and regulatory frameworks
• Master the concepts, approaches, methods and techniques used to manage
risk within an organization
• Learn how to interpret the ISO 31000 principles and guidelines in the
specific context of an organization
• Learn how to establish an effective risk communication plan and a risk
recording and reporting process
• Acquire the expertise to support an organization to effectively manage
and monitor risk based on best practices
Educational approach:
• This training is based on both theory and best practices used in the
management of risk
• Lecture sessions are illustrated with examples based on case studies
• Practical exercises are based on the course material and case study
Prerequisites:
A fundamental understanding of ISO 31000 and comprehensive knowledge of
Risk Management.