ISO 31000:2018 Certification
RISK MANAGEMENT
What is the ISO 31000:2018 standard?
Recent compliance requirements, legislative evolution, increased incidents, and economic and financial instabilities have made organizations aware of the need to adopt a structured approach to Risk Management. Self-certifications and self-referentiality are not always enough: implementing a Risk Management strategy compensates for the technological and organizational investment (necessary for prevention), risk treatment, and containment.
The ISO 31000 Risk Management standard can be used by any organization, association, group or individual. It is not specific to any industry or sector but is transversal to all of these, based on the principle that risk, as a methodological approach, is universal. ISO 31000 can be applied throughout the entire lifecycle of an organization and can be adopted for many activities such as defining strategies and decisions, operations, processes, functions, projects, products, services, and assets.
ISO 31000:2018. What are the services offered by Bureau Veritas?
Bureau Veritas offers a comprehensive assessment service for evaluating an organization's Risk Management methodology. This service is designed to provide a thorough analysis of the organization's approach to risk management, encompassing both strategic and operational aspects. The assessment process culminates in two key deliverables:
- A detailed report
This document provides an in-depth analysis of the organization's Risk Management practices, highlighting strengths, identifying areas for improvement, and offering actionable recommendations based on industry best practices and international standards - An official attestation
This formal document outlines the current rating of the organization's Risk Management capabilities. It specifically focuses on two critical areas:
a) The application of General Principles of Risk Management, assessing how well the organization adheres to fundamental risk management concepts and practices
b) The Governance process, evaluating the effectiveness of the organization's risk oversight and decision-making structures.
This dual-output approach not only provides the organization with valuable insights for internal improvement but also serves as a credible, third-party validation of their Risk Management maturity. Such an attestation can be particularly valuable for stakeholder communication, regulatory compliance, and demonstrating organizational resilience to partners and clients.
FAQ - Frequently Asked Questions about the ISO 31000:2018 standard
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What are the main benefits of ISO 31000 certification?
- Implementing a Risk Management strategy compensates for the investment, both technological and organizational, necessary for prevention, risk treatment, and their containment
- Defining a methodology, calibrating it to the reality of the organization, implementing it, and having it validated by a Third-Party Entity can help the organization become more aware of risks, its strengths and weaknesses, monitor the historical trend of risks, and implement improvement actions to reduce, mitigate, and transfer risks.
The basic objective of any risk analysis is not to reduce these risks to zero, but to make the organization aware of the types of risks to which it is exposed and to evaluate the actions to be taken (including accepting the risk outright)