ISO 31000: 2018 Enterprise Risk Management (Cerm Academy Series on Enterprise Risk Management)

A single cyberattack can cripple operations overnight. A supply chain disruption on the other side of the world can bring entire industries to a standstill. In today’s volatile, uncertain, and interconnected world, risk is no longer a side concern — it is the defining challenge of enterprise leadership. That is why ISO 31000, the global standard for enterprise risk management, has become indispensable. ISO 31000: Enterprise Risk Management ISO 31000: Enterprise Risk Management describes how to use and deploy the world’s #1 risk management framework. The framework has been adopted as a national risk management standard by more than 60 countries. Is an international standard that more than 60 countries have adopted as a national risk standard. ISO 31000: Enterprise Risk Management describes the following ‘what is’ and ‘how to’: List of risk assessment techniques includes 31 methods. Support ISO 9000:2015 in the design and implementation of Risk Based Thinking (RBT). Form the basis for risk based, problem solving (RB – PS) and risk based, decision making (RB – DM). Establish the basis and foundation for ISO 31000 Enterprise Risk Management (ERM). Become the basis for the organization’s risk management framework and process. Identify risk stakeholders, customers, and other interested parties. Identify stakeholder risk requirements, needs, and expectations. Identify and establish the context for designing, implementing, and assuring a risk management process. Evolve as the guideline to evaluate and manage upside risk and downside risk. Design and implement a supply risk management system. Treat and manage risks. Report and document the results and effectiveness of risk treatment and risk management. Communicate the effectiveness of the ISO 31000 risk management framework and risk management process to stakeholders, customers, and interested parties. Monitor and review risks based on organizational risk criteria and risk appetite. Why Purchase ISO 31000: Enterprise Risk Management ISO 31000 risk management framework is descriptive not prescriptive. It describes in general terms risk management principles and elements of a framework. The purpose of the framework is to integrate risk management into ISO management systems such as ISO 9001:2015 or ISO 14001:2015. Iroperly architected, designed, implemented, and assured, ISO 31000 provides these benefits: Is practical for the small to medium sized organization getting into Risk Based Thinking. Can be applied and integrated into ISO management systems and risk management frameworks. Can be applied to organizations in almost any sector, maturity level, and capability level. Is an open ended guideline that is flexible and open to interpretation so it can be applied universally. Encourages proactive, preventive, preemptive, and predictive® decision making rather than reactive management. Identifies and treats risks throughout the enterprise. Improves identification of upside risks (opportunities) and downside risks (threats). Complies with legal and regulatory requirements. Improves financial reporting. Improves corporate governance, risk, and compliance (GRC). Improves stakeholder confidence and trust. Improves ‘Tone at the Top’ and other soft controls. Establishes a reliable basis for risk based, problem solving and decision making. Improves operational risk controls. Allocates resources effectively and efficiently for risk management, treatment, and mitigation. Improves operational effectiveness, efficiency, and economics. Improves incident management and prevention.