Implementing ISO 31000 Risk Management Framework (PowerPoint PPTX)

Today more than any other time before, all types and sizes of organizations face internal and external factors and influences that make it increasingly uncertain whether and when they will achieve their objectives. The effect this uncertainty on an organization's objectives is "the risk". This involves not only threats to the strength or viability of the organization, but also opportunities to be gained. Graft, inflation, pandemics, Reputation, market volatilities, political changes and climate change impacts are examples of what needs to be considered when managing risk effectively.

Based on ISO 31000, this program provided knowledge and fundamental concepts and principles of risk management, while describing a framework and outlining processes for identifying and managing risk. The ISO 31000 Risk Management Guideline is an international standard issued in 2009 by ISO (International Organization for Standardization) and revised in 2018, and it is intended to serve as a guide to the design, implementation and maintenance of an effective risk management programs for any type of organisation. In addition to supporting performance by increasing certainty on achievement of objectives, ISO 31000 seeks to provide a level of reassurance in terms of resilience, reputation and social environmental and safety outcomes.

To aid setting up or augmenting existing Risk Enterprise Risk Management this program aims to help organizations increase the likelihood of achieving objectives, improve the identification of opportunities and threats and effectively allocate and use resources for risk treatment using ISO 31000. The ISO 31000, Risk management – Guidelines, provides principles, a framework and a process for managing risk. It can be used by any organization regardless of its size, activity or sector. The knowledge provided will guide entire organization, at its many areas and levels, as well as to specific functions, projects and activities during such a deployment. Core focus of the knowledge share ISO 31000 Component for consideration in the implementation including 1) the Risk Management principles that inform 2) The Risk Management Framework and 3) The Risk Management Process. This is part 2 of 3 of the programs providing knowledge of the Risk Management Framework (Component Two (2) of the ISO 31000: 2018 Risk Management guidelines). Comprehensive of best practices underlying characteristic of and effective risk management is provided. The overview of foundation and benefits of implementing Enterprise Risk Management programs based on ISO 31000 Risk Management Guideline is also provided (The latter 2 learnings are replicated across the three program the series).