Why ISO 31000?

ISO 31000 provides principles and generic guidelines on risk management. ISO 31000 can be used by any public, private or community enterprise, association, group or individual. Therefore, ISO 31000:2009 is not specific to any industry or sector. ISO 31000 can be applied throughout the life of an organization, and to a wide range of activities, including strategies and decisions, operations, processes, functions, projects, products, services and assets. ISO 31000 can be applied to any type of risk, whatever its nature, whether having positive or negative consequences.

Although ISO 31000:2009 provides generic guidelines, it is not intended to promote uniformity of risk management across organizations. The design and implementation of risk management plans and frameworks will need to take into account the varying needs of a specific organization, its particular objectives, context, structure, operations, processes, functions, projects, products, services, or assets and specific practices employed.

It is intended that ISO 31000:2009 be utilized to harmonize risk management processes in existing and future standards. It provides a common approach in support of standards dealing with specific risks and/or sectors, and does not replace those standards. ISO 31000:2009 is not intended for the purpose of certification of Organization. The main idea behind ISO 31000 is to link risk management to decision-making and performance, helping managers to make risk-based decisions under uncertainty to achieve objectives.