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The Standard ISO 31000

The Standard ISO 31000 "Risk management" is an international standard defining principles and instructions for risk management. The standard provides a framework for implementing and maintaining risk management applicable to any private, public, social organization, group or even individual.

The standard is applicable to all types of organizational entities, regardless of their size and purpose. It can be applied throughout the life cycle of the organization and covers all types of risk - whether positive or negative consequences, operational or speculative risk. The standard offers a general approach for implementation of the standards providing guidance for management of specific risks or risk management in specialized sectors.

Why should you implement a risk management?
The reasons for the need of implementation of risk management are specific for each organizational entity, but the main advantages of this are:
- Encourage proactive management
- Improving the identification of opportunities and threats
- Ensure compliance with regulations and international standards
- Improving the process of reporting
- Improving governance
- Increase safety and confidence of stakeholders
- Improve operational efficiency and effectiveness
- Improve loss prevention and management of incidents
- Improve control and sustainability of the organization
Risk management, built according to the requirements and guidelines of ISO 31000, would allow the entity (organization, group or person) to continue its activities with a high degree of predictability, even in the event of unusual circumstances.

Benefits
The specialists of our team can be helpful for you during the whole process of risk assessment, development and implementation of an organizational framework for its management, as well as its improvement over the work. The process of implementation of risk management comprises the following steps:

Identifying the circumstances
Identification of the circumstances aims to establish the goals of the organization, the environment in which it seeks to those goals, the stakeholders and the the variety of risk criteria. This is the basis for detection and assessment of the nature and complexity of risks.

Identification of risk
At this stage it is necessary to identify the sources of risk, the areas of impact, events and their causes and potential consequences. The aim is to create an exhaustive list of risks, based on events that can provoke, incite, detain, remove, accelerate or delay the achievement of objectives. The stage includes risk identification, whose source is or is not under the control of the organization, even when the source or causes of risk may not be obvious.

Risk Analysis
The risk analysis provides input to assessing risk and deciding on the need for impact on risk, and allows you to choose the most appropriate methods and strategies to influence risk. It includes consideration of the causes and sources of risk, their positive and negative consequences that these effects occur, identify the factors that impact on consequences and their possibility.

Evaluation of the Risk
The assessment of risk is based on the results of risk analysis. It involves comparing the level of risk, identified during the analysis process with risk criteria developed during the identification of the circumstances. On this basis should be carried out assessment of need for impact on the risk.

Impact on the risk
The Impact includes risk selection and implementation of one or more options for risk reduction. This is an iterative process that includes:
- - Evaluation of the impact on risk
- - Decision on eligibility of levels of the residual risk
- - In inadmissibility - new impact on the risk
- - Evaluation of the effectiveness of impact.

Training
Training of the staff and especially of the management team is one of the basic conditions for effective implementation of risk management. So we offer a wide range of training programs, including lectures, practical work, role plays and more.

If you want to check whether everything written above is true, you can check it by working with us!