What is ISO 31000:2018 Risk Management – Guidelines?
ISO 31000:2018 is a generic risk management standard developed by ISO Technical Committee 262, Risk Management. Its official title is ISO 31000:2018 Risk Management – Guidelines.
Published in February 2018, this is the second edition of the ISO standard. It cancels and replaces the now‑obsolete ISO 31000:2009. The update was introduced to streamline the content and respond to evolving stakeholder needs and expectations.
ISO 31000 provides international‑level guidelines and practices for organizations to follow within their risk management systems. It offers a comprehensive approach to managing risks across all business areas, including financial loss, data breaches, intellectual property loss, safety risks, and more.
Removing uncertainties in business is essential for promoting growth and efficiency. This international risk management standard lays out detailed principles and regulations to help organizations manage and mitigate business risks, thereby enhancing the value of their outputs.