Title: ISO 31000:2009 — Setting a new standard for risk management.
Abstract: Last year saw the publication of IS0 31000:2009, a
new globally accepted standard for risk management together with a new,
associated vocabulary in ISO Guide 73:2009. These were developed through a
consensus-driven process over four years, through seven drafts, and involving
the input of hundreds of risk management professionals around the world. The new
standard supports a new, simple way of thinking about risk and risk management
and is intended to begin the process of resolving the many inconsistencies and
ambiguities that exist between many different approaches and definitions. While
most decisionmakers seem to welcome the new standard and it has so far received
very good reviews, it does create challenges for those who use language and
approaches that are unique to their area of work but different from the new
standard and guide. The need for compromise and change is the inevitable
consequence of standardization.[Purdy, G. (2010). ISO 31000:2009—Setting a New
Standard for Risk Management. Risk Analysis, 30(6), 881 - 886.]
Keywords: ISO 31000 • risk management • risk management framework