For organisations to be competitive, successful and to sustain its business for the future, many aspects of a business needs to be addressed including value adding products & services, effective & efficient processes, and also to ensure unexpected risks are not negatively impacting the organisation. In other words, the organisation needs to ensure that it has a “Risk Management Program” in place. This is where the ISO 31000 Risk Management standards Guideline come in.
ISO 31000 not only ensured that an organization addresses operational risks (through continuity plans) but also provides a level of re-assurance in terms of economical resilience, reputation and even environmental & safety risks. In today’s global market (as seen with the COVID-19 epidemic) , organizations needs to ensure that its risk plans are effectively in place to manage the various risks effecting the organization on a daily bases.
Why ISO 3100?
The ISO 31000, Risk management – Guidelines, will provide the organisation with:
· Principles, a framework and a process for managing risk
· Guiding the organisation through the implementation of a Risk Management system
· This can help the organisation
· Can help organizations increase the likelihood of achieving objectives
· Improving the identification of opportunities and threats and
· Effectively allocate and use resources for risk mitigation and controls.
Can you get certified to ISO 31000?
The answer is no! ISO 31000 cannot be used for certification purposes, but will only demonstrate that the organization has achieved and implemented an enterprise wide risk management process. The standard however, will provide guidance for internal & external audit programmes.
So where to start?
Contact the SAQI team to guide you in the right direction. SAQI has built a relationship with various service providers and knowledge partners, who can help you on your journey to success.