ISO 31000 Risk Management
Risks affecting organizations can have consequences in terms of economic performance and professional reputation, as well as environmental, safety and societal outcomes. Therefore, managing risk effectively helps organizations to perform well in an environment full of uncertainty.
ISO 31000:2018 gives a list on how to deal with risk:
- Avoiding the risk by deciding not to start or continue with the activity that gives rise to the risk
- Accepting or increasing the risk in order to pursue an opportunity
- Removing the risk source
- Changing the likelihood
- Reduce insurance premiums
- Becomes integral part of a sustainable strategy
- Encourage more effective internal and external communication
- Increased employee awareness and involvement
- Improve safety culture
- Positive image with customers and stakeholders
- Enhance reputation for safety and occupational health