What is ISO/FDIS 31000:2017 ?

ISO-FDIS 31000:2017 is an international standard that provides a framework for managing risks effectively. It is part of the ISO-FDIS (Fundamentals of ISOFDIS) series, which is a set of standards developed by the International Organization for Standardization (ISO) to provide guidance for the development and implementation of management systems.

ISO-FDIS 31000:2017 is a standard that provides guidance for organizations on how to integrate risk management into their overall management system. It emphasizes the importance of identifying, analyzing, evaluating, treating, and monitoring risks throughout the organization. The standard provides a systematic approach for identifying potential threats and opportunities, and allows organizations to make informed decisions to achieve their objectives.

ISO-FDIS 31000:2017 is widely recognized as a standard for risk management, and it is used as a tool for organizations to identify potential risks and opportunities, and make informed decisions to mitigate those risks. It is also used as a framework for organizations to develop and implement risk management plans and procedures.

How to use ISO-FDIS 31000:2017?ISO-FDIS 31000:2017 is a guide for organizations on how to integrate risk management into their overall management system. It provides a systematic approach for identifying, analyzing, evaluating, treating, and monitoring risks throughout the organization.

To use ISO-FDIS 31000:2017, organizations should follow these steps:

Identify potential risks and opportunities: The first step in using ISO-FDIS 31000:2017 is to identify potential risks and opportunities that could impact the organization. This can be done through various means, such as conducting a risk assessment or reviewing past experiences.

Analyze the risks and opportunities: Once potential risks and opportunities have been identified, the next step is to analyze them. This involves evaluating the likelihood and potential impact of each risk or opportunity, as well as the potential solutions to mitigate those risks.

Evaluate the risks and opportunities: After analyzing the risks and opportunities, the next step is to evaluate them. This involves evaluating the potential impact of each risk or opportunity on the organization, as well as the potential solutions to mitigate those risks.

Treat the risks and opportunities: Once the risks and opportunities have been evaluated, the next step is to treat them. This involves developing a plan to mitigate or manage those risks, or taking other appropriate action to address those opportunities.

Monitor the risks and opportunities: After treating the risks and opportunities, the next step is to monitor them. This involves regularly reviewing the impact of those risks and opportunities, and adjusting the treatment plan as necessary.

Communicate the risks and opportunities: Finally, it is important to communicate the risks and opportunities to relevant stakeholders. This involves sharing the results of the risk assessment and evaluation with those stakeholders, and discussing any potential solutions or actions that can be taken.

By following these steps, organizations can use ISO-FDIS 31000:2017 to effectively manage risks and opportunities and integrate risk management into their overall management system.