New risk assessment Standard joins risk management toolbox

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Two recently published Standards on risk management have just been joined by a third on risk assessment techniques. Together, the three Standards provide organisations of all types with a well-stocked toolbox for tackling situations that could affect the achievement of their objectives.

Risk management – Risk assessment techniques ISO/IEC 31010:2009 will help organisations to implement the risk management principles and guidelines provided by the recently published Risk management – Principles and guidelines Standard AS/NZS ISO 31000:2009. AS/NZS ISO 31000:2009 is also complemented by Risk management – Vocabulary ISO Guide 73:2009.

'ISO/IEC 31010 has been developed for application by both the risk management novice and the seasoned risk professional,' says Eric Mahy, Project Leader of the Standard comments. 'ISO/IEC 31010 forms part of an integrated risk management structure of Standards, developed with a view to providing a 'best practice' approach.'

Risk assessment is an integral part of risk management and ISO/IEC 31010:2009:

  • is used to analyse the risk in terms of consequences and their probabilities, before the organisation decides on further treatment, if required
  • provides a structured process for organisations to identify how objectives may be affected
  • provides a basis to decide on the most appropriate approach to be used to treat particular risks and to select between options.

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