ISO 31000:2009, Risk management – Principles and guidelines, provides principles, 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.
However, ISO 31000 cannot be used for certification purposes, but does provide guidance for internal or external audit programmes. Organizations using it can compare their risk management practices with an internationally recognised benchmark, providing sound principles for effective management and corporate governance.
Benefits of ISO 31000
Benefits of using ISO 31000 include using enterprise-wide risk management processes to:
- increase competitive advantage by adopting a globally accepted risk management standard;
- increase awareness and understanding of the organization’s risks;
- improve the reduction, mitigation and/or elimination of those risks;
- acknowledge that identified risks are within the organization’s risk criteria and tolerance; and
- improve client/stakeholder confidence and trust.
Who Needs ISO 31000?
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.
How Kayzed Help To Get Certified?
Kayzed Consultants is one of the largest & leading business management consulting organizations offering business management consulting services to organizations of all nature and size.
Our services are essential for businesses of all types whether it is to get products to market, meet contractual and regulatory requirements or improve quality, safety, efficiency and sustainability.
The core of our business is our people whose depth of knowledge and experience means they understand the issues that are important to your business and to meeting your goals.
Our ISO certification services cover training, gap analysis, documentation, implementation assistance, internal audit, pre-assessment audit, assistance in selection of the ISO certification body and ensuring successful completion of the ISO certification audit.
The standard contains specific requirements for manufacture, installation and servicing and calls for:
- Implementation of a Quality Management System with several enhancements
- Risk Management approach to product development and product realisation
- Validation of processes
- Compliance with statutory and regulatory requirements
- Effective product traceability and recall systems
What are the benefits of certification?
- Customer satisfaction – through delivery of products that consistently meet customer requirements as well as quality, safety and legal requirements
- Reduced operating costs – through continual improvement of processes and resulting operational efficiencies
- Improved stakeholder relationships – including staff, customers and suppliers
- Legal compliance – by understanding how statutory and regulatory requirements impact the organization and its customers
- Improved risk management – through greater consistency and traceability of products and use of risk management techniques
- Proven business credentials – through independent verification against recognized standards
- Ability to win more business – particularly where procurement specifications require certification as a condition to supply in a highly regulated sector