Risk Management and ISO 31000

July 17, 2014
By Mairead Roden

Any organization, regardless of industry, size, or sector, deals with risk. Risk can vary in type, severity, and degree of certainty, but when it’s uncontrolled, negative consequences, whether economic, environmental, societal, or other, are likely. It is impossible to eliminate all risk—the world is full of uncertainties—but we can take steps to minimize it. This is where risk management and ISO 31000 come into the picture. ISO 31000 is an international standard of best practice recommendations for risk management. These recommendations help organizations improve management, safety, and security in the workplace, while also improving the quality and consistency of their output.

Implementation of ISO 31000 is voluntary. The benefits, however, are undeniable. Among other things, risk management:

  • Improves efficiency in operations and the achievement of objectives.
  • Addresses uncertainty and ensures that risks are managed proactively.
  • Adapts to an organization’s needs, while improving stakeholder confidence.
  • Responds to change and facilitates continual improvement.
  • Minimizes losses.

Freer Consulting Co. has extensive experience with ISO 31000 and a proven ability to effectively customize and implement a risk management process for your organization. If you are interested in our services, please contact us at 206-285-9044 or info@freerconsulting.com

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