What is ISO 31000?
ISO 31000 is an international standard that provides comprehensive guidance on how to manage risk in any type of organisation. Whether you work in a small business or a large organisation, the standard helps you identify potential risks, assess them and put plans in place to deal with them effectively. The current edition is ISO 31000:2018. It is a guidance standard, not a requirements standard, so it is not used for certification.
Why does ISO 31000 matter?
- Better decision-making: The standard helps you understand risk better, so you can make more informed decisions.
- Greater trust: Applying ISO 31000 shows your customers and partners your commitment to excellence and transparency.
- Fewer losses: By identifying and managing risks effectively, you can reduce financial and operational losses.
- Support for legal compliance: Managing risk systematically helps you spot and deal early with the legal and regulatory risks in your industry.
What are the benefits of applying ISO 31000?
- Better overall company performance: By applying the principles of the standard, you will see more efficient processes and less waste.
- Greater resilience: Your organisation will be better able to cope with change and unexpected challenges.
- A stronger reputation: You will earn a reputation as a company committed to excellence and quality.
What are the key elements of ISO 31000?
- Leadership and commitment: The role of leadership in defining and implementing the risk management policy.
- Designing a risk management framework: Identifying risks, assessing them and planning how to deal with them.
- Implementing risk management: Applying the procedures and processes needed to manage risk.
- Monitoring and reviewing the framework: Making sure the risk management system is effective and making the necessary improvements.
How do you apply ISO 31000 in your organisation?
- Identify your needs: Define your organisation’s specific risk management needs.
- Develop a risk management system: Develop a risk management framework guided by the principles and process of the standard.
- Training: Train your staff on the principles of the standard and the procedures of the new system.
- Documentation: Document all processes and procedures relating to risk management.
- Internal audit: Carry out an internal audit to confirm that your risk management framework is effective.
- Monitoring and improvement: Monitor risks, and review and update the framework whenever your organisation’s circumstances change.
- Integration into management systems: Build risk management into certifiable management systems such as ISO 9001, ISO 14001, ISO 45001 or ISO 22301.
Who can apply ISO 31000?
Put simply, any organisation can apply ISO 31000, regardless of its size or the nature of its work. Whether a company is small or large, public or private, for-profit or non-profit, ISO 31000 is designed to apply to every type of organisation.
Who benefits from applying ISO 31000?
- Small and medium-sized enterprises: It helps SMEs build strong foundations for managing their business and reducing risk.
- Large companies: It helps large companies improve their processes and make better-informed decisions.
- Government organisations: It helps government organisations improve service delivery and achieve their strategic objectives.
- Non-profit organisations: It helps non-profits achieve greater impact with limited resources.
Examples of sectors that can apply ISO 31000
- Industry: Factories, engineering companies and energy companies.
- Services: Banks, insurers, telecommunications companies and hospitals.
- Public sector: Ministries, government agencies and municipalities.
- Education: Universities and schools.
Team Quality does not issue ISO 31000 certificates. However, risk-based thinking is part of the requirements of standards we certify, such as ISO 9001, ISO 14001 and ISO 45001, and we also certify business continuity management systems to ISO 22301.
Team Quality is a company specialising in auditing and awarding international ISO certificates to all kinds of organisations, factories, companies and government bodies. It is accredited locally by the Egyptian Accreditation Council (EGAC) and internationally by the International Accreditation Service (IAS), both signatories of the International Accreditation Forum (IAF) multilateral recognition arrangement. It is also registered with the Egyptian Organization for Standardization and Quality (EOS).
Our aim at Team Quality is to help companies of every size and sector achieve excellence in quality by offering a wide range of services, including:
- Certification: we audit and certify organisations against internationally recognised standards such as ISO 9001, ISO 14001 and ISO 29994.
- Training: We offer open training courses, available to all, across different areas of quality, such as internal auditing, risk analysis and problem solving.
- Assessment: We provide independent assessment services to measure how well companies comply with recognised quality standards.
Our accreditations
Team Quality holds the following accreditations and registrations:
Locally by
- The Egyptian Accreditation Council (EGAC)
International accreditation and registration
- Internationally: International Accreditation Service (IAS), an IAF MLA signatory
- Registered with: Egyptian Organization for Standardization and Quality (EOS)
- Our certificates can be verified on IAF CertSearch
For more details, contact us directly on 01014442207 or via WhatsApp
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