“Dealing with risk is part of governance and leadership, and is fundamental to how an organization is managed at all levels.” — International Organization for Standardization
In February 2018, the International Standards Organization (ISO) released an updated version of its risk management guidelines, ISO 31000:2018, which can be purchased for about $95. The 2018 update, which replaced the prior version from 2009, provides:
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Updated and simplified language and reference structures;
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A renewed focus on the key leadership role that boards and top management must play in ensuring that risk management is fully integrated at all levels of the organization; and
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Greater attention to the cyclical and iterative nature of risk management, which underscores the notion that organizations must evaluate their risk management process in light of new information or in response to feedback about gaps that might be present in the current risk process or associated controls.
Breaking Down ISO 31000:2018
In a world where standards often weigh in at hundreds of pages, the 16 pages of ISO 31000:2018 constitute a succinct and concentrated guide to help organizations improve the way they manage their…
