ISO 31000 2009 TRANSLATED INTO PLAIN ENGLISH

PART

TITLE 31 TABLE OF CONTENTS

PAGE

1

Introduction

3

2

Risk Management Dictionary

11

3
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
(j)
(k)

Risk Management Principles
Risk Management Should Create and Protect Value
Risk Management Should Be an Integral Part of All Processes
Risk Management Should Be Part of Your Decision Making
Risk Management Should Be Used to Deal With Uncertainty
Risk Management Should Be Systematic, Structured, and Timely
Risk Management Should Be Based on the Best Information
Risk Management Should Be Tailored to Your Environment
Risk Management Should Consider Human and Cultural Factors
Risk Management Should Be Transparent, Inclusive, and Relevant
Risk Management Should Be Dynamic, Responsive, and Iterative
Risk Management Should Facilitate Continual Improvement

20
20
21
21
21
22
22
23
23
24
24
25

4
4.1
4.2
4.3
4.4
4.5
4.6

Risk Management Framework
Establish a Risk Management Framework
Make a Commitment to Risk Management
Design Your Risk Management Framework
Implement Your Approach to Risk Management
Monitor Your Risk Management Framework
Improve Your Risk Management Framework

26
26
26
28
36
38
39

5
5.1
5.2
5.3
5.4
5.5
5.6
5.7

Risk Management Process
Apply Your Risk Management Process
Communicate and Consult With Stakeholders
Establish Your Unique Risk Management Context
Carry out Your Organization’s Risk Assessment Process
Formulate and Implement Your Risk Treatment Plans
Monitor and Review Your Risk Management Process
Maintain a Record of Risk Management Activities

40
40
40
43
50
56
60
62

6

Executive Summary of Standard

64

7

Annex A: Enhancing Risk Management

73

8

License Agreement and Contact Information

80