The latest version of the ISO 31000 Standard was officially published on February 15th. The 2018 version sees an update to the structure of the Standard as well as a clearer, more concise guide to managing risk within business.
Jason Brown, chair of the committee that developed the updated Standard, said: “the revised version of ISO 31000 focuses on the integration with the organization and the role of leaders and their responsibility. Risk practitioners are often at the margins of organizational management and this emphasis will help them demonstrate that risk management is an integral part of business.”
The 31000 Standard is suitable for any organisations, no matter their size or sector. It sets out a framework for good risk management practices that will help businesses to ensure their success over the long term. These guidelines can be applied to any business practice from strategy and planning, to corporate governance, business resilience and crisis management.
In addition, ISO 31000:2018 follows the Annex SL structure used by several popular ISO standards, including ISO 9001:2015 and ISO 14001:2015. This top-level structure allows for simple integration of an ISO 31000 Management System within organisations that are already running an Annex SL-based Management System.
Businesses currently certified to ISO 31000 have a three-year period in which to upgrade to the new version before ISO 31000:2009 is retired from use.
To find out more about the ISO 31000 or how QMS can help you become certified, please contact 0333 344 3646 or email firstname.lastname@example.org.