ISO 31000:2009

What is ISO 31000: 2009?

The international organization for standardization has introduced the ISO 31000 certification which primarily looks into risk management. The main purpose of ISO 31000:2009 is to provide the guidelines and all the principles which revolve around risk management. The international standard has provided a standardised framework for all the companies who are undertaking risk management as a process in their workings. The risk management has become popular lately because it has been very effective in replacing the myriad of existing standards, methodologies and paradigms that differed between industries, subject matters and regions.

The ISO 31000:2009 includes a very huge stakeholder group which include:

  • Stakeholders of the executive level
  • Management officers
  • Risk analysts
  • Internal orders
  • Compliance managers
  • Independent practitioners
  • Project managers
  • Line manager
  • The risk management group
  • Appointment holders

Benefits of ISO 31000:2009

The ISO 31000 standard can be applied to any organisation be it large or small, service or product indirect, profitable or non-profitable. The ISO 31000 certification can provide a number of benefits such as:

  • It will increase the chances of the organization to achieve the targets and results by a higher margin.
  • It will help the company to identify more and more opportunities as well as threats.
  • It will help the company to use the allocated resources in an effective and efficient manner and also allocate the resources to the staff in a more structured manner.
  • It helps in providing proper guidance for the external and internal audit purpose.

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