ISO 31000 Risk Management

What is the purpose of ISO 31000?

In today’s world of rapid and unpredictable change, every organization—regardless of size or industry—is called upon to manage inherent risks, which may pose threats or create new opportunities.

According to the International Organization for Standardization (ISO), ISO 31000 is an international risk management standard that provides principles and guidelines for establishing a comprehensive and effective risk management framework.

With ISO 31000, an organization can adopt a systematic approach to identifying, analyzing, evaluating, managing, monitoring, and communicating risks, ensuring sustainability, competitiveness, and resilience in an ever-evolving business environment.

What does ISO 31000 contain?

ISO 31000 differs from other management system standards, as it does not follow the High-Level Structure (HLS) applied to ISO 9001, ISO 14001, ISO 39001, ISO 45001, ISO 50001, etc. Instead, it focuses on three key pillars: principles, framework, and risk management process.

A critical aspect of the standard is its holistic approach to risk management, taking into account both potential threats and opportunities that may arise for an organization.

For the effective implementation of ISO 31000, organizations can leverage the complementary standard ISO 31010, which includes a range of risk assessment and management techniques—from brainstorming to more specialized methods, such as multi-criteria decision analysis—offering a flexible and powerful toolset for enhancing organizational resilience.

What is the significance of the standard?

ISO 31000:2018, published in February 2018, provides guidelines for risk management, but does not contain certification requirements. This means it cannot be used for certification purposes; however, any organization wishing to implement it—regardless of type, size, activity, or location—can assess its compliance through an audit process.

We offer Attestation of Conformity according to ISO 31000, instead of an accredited certificate of conformity, giving organizations a strong tool for the systematic identification, analysis, and management of risks.

ISO 31000 helps organizations foster a risk management culture, enhancing the ability of all stakeholders to identify and mitigate risks they face, while increasing the protection of assets and the achievement of objectives.

Thus, ISO 31000 provides an organization with:

• Comprehensive Understanding: Promotes a shared understanding of risks, their nature, and how to manage them across the entire organization.
• Strategic Decision-Making: Integrates risk management into governance, strategic planning, operations, and organizational culture.
• Operational Excellence: Facilitates timely identification of threats and opportunities, enabling more efficient resource allocation and increasing stakeholder confidence.
• Proactive Approach: Equips organizations with tools to prevent and effectively manage risks, turning challenges into strategic advantages.
• Stakeholder Confidence: Builds trust among investors, customers, and stakeholders by demonstrating the organization's ability to manage uncertainties and maintain stability.
   

What are the next steps?

For organizations wishing to assess their compliance with ISO 31000:2018, we recommend involving their staff in our regularly scheduled open training events.

For more information and our seminar calendar, please visit:
 www.tuv-nord.com/gr/el/ekpaideysi/imerologio-seminarion/

For questions and clarifications, contact us:

• Certification Department: Ms. Konstantina Panteliou
  Tel: +30 215 215 7462 | Email: kpanteliou@tuv-nord.com
   
• Training Department: Mr. Manthos Zazanis
  Tel: +30 215 215 7455 | Email: mzazanis@tuv-nord.com

September 2015: 30 September 2015 – Publication of ISO 9001:2015

18 Months: Within 18 months from the publication date, all new certifications must be based on the 2015 version of the Standard.

3 Years: All certified organizations must have transitioned to the 2015 version of the Standard within three years.]

The language and intent of the ISO 9001 standard have significantly evolved compared to its previous versions. New definitions have been introduced regarding interested parties, the context of the organization, and risks.

The requirements most likely to have the greatest impact on organizations include:

• Determining relevant internal and external issues that could influence the achievement of the desired outcomes of the QMS
• Identifying relevant interested parties and their requirements
• Integrating QMS objectives into operational processes
• Aligning the quality policy and objectives with the organization’s strategic direction
• Considering QMS performance as part of strategic planning
• Identifying and monitoring the organization’s threats and opportunities
• Conducting management reviews that incorporate all of the above elements.
   

With its team of experienced auditors, TÜV HELLAS has certified more than 10,000 companies in Greece, Cyprus, Lebanon, Romania, Bulgaria, Egypt, Turkey, and the Middle East, holding a leading position in Greece. Additionally, TÜV HELLAS is already conducting audits in accordance with the new ISO 9001:2015 version.