ISO 31000 Risk Management Process
Risk Management
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Communication and Consultation in Risk Management
This process ensures a well-informed and inclusive approach to managing risk with relevant stakeholders.
Effective Communication
Helps stakeholders understand risks, the basis of decisions, and their responsibilities.
Inclusive Consultation
Gathers feedback and diverse expertise to improve risk identification and assessment.
Risk Identification: Finding and Defining Risks
This is the process of finding, recognizing, and describing risks that could affect objectives.
Evidence-based methods
Using historical data and evidence to identify known potential risks.
Systematic approaches
Employing structured techniques like checklists and process flow analysis.
Creative techniques
Using brainstorming and scenario analysis to explore potential future risks.
Expert opinion
Leveraging specialized knowledge and judgment from subject matter experts.
Stakeholder input
Gaining diverse perspectives by involving relevant internal and external parties.
Context analysis
Examining the internal and external context for potential risk sources.
Risk Evaluation and Treatment: Making Decisions on Risks
This process involves comparing risks against criteria to select and implement options for treatment.
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