Earlier this year, the International Organisation for Standardisation (ISO) updated the Standard for risk management – ISO 31000.
The focus of ISO 31000 has not changed - it is still intended to provide businesses with a framework for implementing risk management processes throughout. The update was aimed at making the Standard easier and clearer. Industry-specific and risk management terminology definitions have been removed and added to a separate vocabulary guide, intended for use alongside ISO 31000.
Other major improvements to the Standard include a greater importance being placed on both the human and cultural factors that contribute to an organisation’s objectives and an emphasis on using risk management in all aspects of business, including decision-making processes.
What actions should you take?
If you are currently certified to ISO 31000 : 2009, your long term goal should be to upgrade your Management System to comply with ISO 31000 : 2018, by 2021. You could also choose to seek certification, demonstrating to customers that you have put best-practice risk management processes in place. But since ISO 31000 is more a set of guidelines than rules, certification remains optional.
Do you need help?
Upgrading a Management System can seem like a daunting task but you are not alone - QMS can support you throughout the entire process. If you are already have an ISO 31000 Management System in place which is certified by QMS, rest assured that we will be in contact with you to discuss your options in the coming months.
To find out more about the upgrade or to discuss your ISO 31000 requirements, please contact one of our experienced Certification Development Consultants on 0333 344 3646.