What is ISO 31000:2018 -RISK MANAGEMENT?
Organizations that manage risks effectively are more likely to protect themselves and succeed in growing their business. The challenge for any business is to integrate good practice into their day-to-day operations and apply it to the wider aspects of their organizational practice. ISO 31000 is the international standard for risk management. By providing comprehensive principles and guidelines, this standard helps organizations with their risk analysis and risk assessments. Whether you work in a public, private, or community enterprise, you can benefit from ISO 31000, because it applies to most business activities including planning, management operations, and communication processes. Whilst all organizations manage risk to some extent, this international standard’s best-practice recommendations were developed to improve management techniques and ensure safety and security in the workplace at all times.
Benefits of ISO 31000:2018 Certification
Customer Satisfaction
Deliver products that consistently meet customer requirements and a service that is dependable and can be relied on.
Reduced Operating Costs
Continual improvement of processes and resulting operational efficiencies mean money saved.
Improved Stakeholder Relationship
Improve the perception of your organization with staff, customers, and suppliers.
Legal Compliance
Understand how statutory and regulatory requirements impact your organization and its customers.
Improved Efficiency
Greater consistency and traceability of products and services means problems are easier to avoid and rectify.
Proven Business Credentials
Independent verification against a globally recognized industry standard speaks volumes.
Check out the ISO 31000:2018 Video
Who can be certified ISO 31000:2018?
Guidelines, provide principles, a framework, and a process for managing risk. It can be used by any organization regardless of its size, activity, or sector. Using ISO 31000 can help organizations increase the likelihood of achieving objectives, improve the identification of opportunities and threats and effectively allocate and use resources for risk treatment.
Manufacturing Companies
Service Sector
Hospitals
NGO'S
Educational
Government Organizations
Research Foundation
Fitness Sector
Shipping Industry
Aerospace
Food
Automotive
Telecom
Textile and Apparels
Medical and Test Lab
Software Development
Document required for ISO 31000
- System Manual
- System Procedure
- Policy
- Objectives
- Mission & Vision
- Standard Operating Procedure (SOP)
- Checklist
- Forms
- Formats
- Records
The extent of Documented Information differs as per:
- Organization’s size
- Activities performed by the organization
- Processes undertaken by the Organization
- Products and services offered by the organization
- The complexity of processes undertaken
- Competence of persons involved
Role of Shamkris and Process of ISO 31000 - Risk Management
Shamkris adopts a results-oriented approach to effective system implementation in the organization. A simple and practical method of system implementation helps organizations increase business efficiency and sustainability. Shamkris supports 100% documentation to obtain a certificate of success in addition to enhanced performance.
The implementation process is described below:
Day 1
GAP Analysis, Certification Body, Selection, Cost Estimates
• Finding the GAP between existing system related to ISO requirements
• Selecting the appropriate certification body
• Based on the scope of your business & certification body you choose
Week 1
Developing Documents
• Management System Manual, Management System Procedures, Policy, Objectives, Forms etc.
• Review of Standard Operating Procedures (SOP)
Week 4
Implementing Management System
• ISO Awareness training for the top management and staff
• Implementing a well-documented management system throughout the organization
Week 8
Internal Audit
MRM
CAPA
• Internal audits identifying nonconformities related to ISO requirements
• Management Review Meetings
• Corrective and Preventive Action plan for nonconformities
Week 10
Certification Body
Audit
N-C Closing
• Shamkris acts on your behalf and assists you in the third-party audit
• Closing of any nonconformities identified by the certification body
Week 12
Certificate Issued
• ISO certificates issued for 3 years
• Surveillance Audits yearly
Year on Year
Yearly Compliance
• Support of Yearly documentation for audit
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 standard is structured into principles (11 attributes of RM), a framework with five components (mandate, plan, implementation, checks and improvement), and process (communication and consultation, context, risk assessment, treatment and monitoring)
ISO 31000:2009 describes a systematic and logical process, during which organizations manage risk by identifying it, analyzing and then evaluating whether the risk should be modified by risk treatment in order to satisfy their risk criteria.
Risk for ISO 31000 is defined as “the effect of uncertainty” on business objectives. This effect can be both positive or negative.