The report explains how to implement the new ISO 31000 risk management standard
The Institute of Risk Management (IRM) has teamed up with the UK risk associations of AIRMIC and Alarm to produce a practical guide to the successful implementation of the international standard ISO 31000.
The new guide, entitled “A structured approach to Enterprise Risk Management (ERM) and the requirements of ISO 31000” is available for free download from the IRM website.
The new guide provides a commentary on ISO 31000 as well as further guidance on successful implementation. In particular the guide recognises that risk has both an upside and a downside and offers additional advice on various concepts including risk appetite.
Steve Fowler, Chief Executive of IRM, said: “IRM firmly welcomes the new ISO 31000 document. Successful adoption of a risk management standard however requires a deeper understanding of the practical realities of implementation and this is what our new guide seeks to add.”
In 2002 the IRM, along with AIRMIC and Alarm, issued ‘A Risk Management Standard’ - one of the very first international standards for risk management. This standard has since been translated into over 15 languages and downloaded many thousands of times.
Fowler added “The new ISO Standard is an extremely valuable resource for risk managers but it has been produced on a commercial basis and is, currently, only available in English. Having members and students from around the world, IRM is keenly aware of the value of a standard that is both available in different languages and also free of charge. That’s why we have decided to maintain the original Risk Management Standard at the same time as seeking to add value to the new ISO standard. ”
