10 practical recommendations when implementing the ISO 31000 risk management standard

Many risk management programs fail, as many managers see risk management as a burdensome compliance and reporting system, not adding value. The level of uncertainty in business has increased a lot, recently. Today consequences on inadequate or wrong decisions, including at board level can be fatal for any company.

It is important to structure and standardize risk management to create and protect value, making the link between risk, objectives and decision-making. It will help managers to make reliable risk-based decisions in an uncertain environment and encourage prevention rather than reaction to a crisis.

References like the international ISO 31000 risk management standard, especially in its recent 2018 version, provides a proactive approach for the management of risks helping to find the best allocation of resources and achieve objectives.

In many organisations, the implementation of the management of risks remains a challenge which could be rectified following the purpose and key principles proposed in the international ISO 31000 risk management standard. This presentation is presenting 10 practical recommendations for an efficient risk management programme in order to better integrate risk into all activities, making the link between objectives, uncertainty, risk and performance.