Implementation & guidance

ISO 31000 Risk Management

Current edition: ISO 31000:2018 · guidelines

The international guidelines for managing risk in any organisation. ISO 31000 sets out principles, a framework and a process that integrate risk management into governance, strategy and decision-making.

What the guidance covers

Principles, framework and process

ISO 31000 is built around three parts that work together.

Principles

Integrated, structured, customised, inclusive, dynamic, based on best information, human factors, continual improvement.

Leadership and commitment

Top management integrates risk into governance and accountability.

Framework design

Roles, mandates, resources and communication for risk management.

Scope and criteria

Context and risk criteria set for each decision or activity.

Risk assessment

Risk identification, analysis and evaluation.

Risk treatment

Options selected and treatment plans implemented.

Monitoring and review

Risks and controls monitored as conditions change.

Recording and reporting

Risk information reported to support decisions.

Why organisations implement it

What an ISO 31000 framework delivers

Better decisions

Risk considered at the point where decisions are made.

Board confidence

A consistent picture of risk across the organisation.

One risk language

Common criteria shared by finance, operations, safety and IT.

Supports certifiable systems

Feeds the risk requirements of ISO 9001, ISO/IEC 27001, ISO 22301 and others.

Regulatory support

A recognised basis for risk governance expectations.

Proportionate effort

Risk management scaled to the organisation.

How we work

Path to an integrated risk framework

One AEC methodology from first assessment to an integrated framework, delivered by registered lead auditors.

  1. AssessCurrent risk practices and governance reviewed
  2. DesignFramework, criteria, roles and risk register designed
  3. ImplementProcess run across priority areas
  4. TrainLeaders and risk owners trained
  5. VerifyReview of risk reporting and controls
  6. SustainFramework integrated into management systems and governance
No framework

Framework design

We design an ISO 31000 framework and run the first risk cycle with you.

Typically 2 to 3 months
Existing ERM

Framework review

We review your enterprise risk management against ISO 31000.

Typically 1 to 2 months
Several ISO systems

Integration

We give your management systems one consistent risk process.

Typically 1 to 3 months
How it is recognised

Guidelines, applied within your management systems

ISO 31000 is a set of guidelines and is not certifiable. Its principles and process are applied within certifiable management systems such as ISO 9001, ISO/IEC 27001, ISO 22301 and ISO 37301, which accredited certification bodies certify.

Practical

Guidance turned into a risk process your teams use.

Certifiable route

Where certification is needed, the route is the relevant management system standard.

No guarantees

We prepare you thoroughly and never promise an outcome only an independent auditor can decide.

Questions

ISO 31000 FAQ

Can we be certified to ISO 31000?

No. ISO 31000 is a set of guidelines. Organisations apply it within certifiable management systems or as the basis for enterprise risk management.

How does ISO 31000 relate to ISO 9001 or ISO/IEC 27001?

Those standards require risk-based planning. ISO 31000 provides a consistent way to do it, so the same risk process can serve several management systems.

Is ISO 31000 the same as COSO ERM?

They are different frameworks with similar aims. Many organisations use elements of both; we help you align them.

How long does it take to put a framework in place?

A framework and first risk cycle typically take 2 to 3 months. Embedding it across the organisation takes longer and continues through management review.

Build a risk framework that works

Tell us your organisation, current risk practices and management systems. We reply with a proposal covering framework design and integration.

Certification, where sought, is carried out by independent, accredited certification bodies. AEC prepares organisations and does not guarantee audit outcomes.