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ISO 31000:2009—Setting a New Standard for Risk Management

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  • Grant Purdy

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

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  • Grant Purdy, 2010. "ISO 31000:2009—Setting a New Standard for Risk Management," Risk Analysis, John Wiley & Sons, vol. 30(6), pages 881-886, June.
    • Handle: RePEc:wly:riskan:v:30:y:2010:i:6:p:881-886
    DOI: 10.1111/j.1539-6924.2010.01442.x
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    Cited by:

    1. Zhibin Niu & Runlin Li & Junqi Wu & Yaqi Xue & Jiawan Zhang, 2020. "regvis.net -- A Visual Bibliography of Regulatory Visualization," Papers 2007.03573, arXiv.org.
    2. Mehdi Khakpour & Jan Ketil Rød, 2016. "An attraction-based cellular automaton model for generating spatiotemporal population maps in urban areas," Environment and Planning B, , vol. 43(2), pages 297-319, March.
    3. Dr Jason Mwanza & Nothando Tshuma, 2023. "Mitigating Business Risk in Manufacturing SMEs: A nexus between informal and formal business risk management: A case of Bulawayo, Zimbabwe," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(1), pages 1107-1138, January.
    4. José Ruiz-Canela López, 2021. "How Can Enterprise Risk Management Help in Evaluating the Operational Risks for a Telecommunications Company?," JRFM, MDPI, vol. 14(3), pages 1-26, March.
    5. Ivo Häring & Mirjam Fehling-Kaschek & Natalie Miller & Katja Faist & Sebastian Ganter & Kushal Srivastava & Aishvarya Kumar Jain & Georg Fischer & Kai Fischer & Jörg Finger & Alexander Stolz & Tobias , 2021. "A performance-based tabular approach for joint systematic improvement of risk control and resilience applied to telecommunication grid, gas network, and ultrasound localization system," Environment Systems and Decisions, Springer, vol. 41(2), pages 286-329, June.
    6. Jerry Selvaseelan, 2018. "Development and Introduction of the Risk-Sentience Auxiliary Framework (RSAF) as an Enabler to the ISO 31000 and ISO 31010 for High-Risk Environments," Administrative Sciences, MDPI, vol. 8(2), pages 1-22, June.
    7. Laura Bitomsky & Olga Bürger & Björn Häckel & Jannick Töppel, 2020. "Value of data meets IT security – assessing IT security risks in data-driven value chains," Electronic Markets, Springer;IIM University of St. Gallen, vol. 30(3), pages 589-605, September.
    8. Carlos Mata & Catarina Pereira & Luís Carvalhinho, 2022. "Safety Measures and Risk Analysis for Outdoor Recreation Technicians and Practitioners: A Systematic Review," Sustainability, MDPI, vol. 14(6), pages 1-15, March.
    9. Jinfen Zhang & Ângelo P Teixeira & C. Guedes Soares & Xinping Yan & Kezhong Liu, 2016. "Maritime Transportation Risk Assessment of Tianjin Port with Bayesian Belief Networks," Risk Analysis, John Wiley & Sons, vol. 36(6), pages 1171-1187, June.

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