ISO 31000 does not provide for this option, yet it is still worth implementing the guidelines. With a certificate, a company can prove at an international level that it has implemented a standardized system. Other ISO standards related to business management have the big advantage of enabling companies to strive toward certification. The monitoring of risks as well as reporting about the findings conclude the process. The company can also decide to hand over their management to an external third party. Here it is possible to either completely avoid certain risks, whose magnitude can only be reduced, or to accept the effects and do nothing about them. If you have carried out the assessment, risk controlling can begin. The risk assessment in turn provides information for determining to what extent and with what resources these potential events are to be faced. These individuals subsequently analyze and assess the risks based on the analysis. Once an overview of the risks has been created, they can be distributed to the responsible parties. Part of risk assessment is initially identifying potential risks. Through conversations with all employees, the RMS can also always be better adjusted to the needs of the company over time. The stakeholders (all individuals affected by risk management according to ISO 31000) must be informed about the implementation steps. In doing so, two factors play the greatest roles: communication and risk assessment. These have to be adapted to the company when implementing the standard. ISO 31000 should be generally applicable to all companies in any industry, however, the standard here only provides initial suggestions. In contrast to the framework and the basic principles, the processes are specific actions that are tailored to the company. If you have implemented the framework within your company, it is then a matter of introducing and executing risk management processes. The RMS should dynamically adapt to company changes and in doing so become more and more effective with time. Improvement: The regular checks also enable constant improvements.Here, the defined goals are compared with the actual results. Assessment: In order to guarantee long-term effectiveness, the RMS must be regularly evaluated.The goal is to have the system accepted by all employees and become part of their work routine. Implementation: In order to implement an RMS in a company, changes to the operational processes are required.In a written statement, the organizational management pledges their commitment to risk management and makes the strategy and role distribution clear to all employees. Structuring: Internal and external factors are taken into consideration when structuring an RMS.
The management then decides on a strategy and assigns responsibilities.
DISADVANTAGES OF IMPLEMENTING ISO 9001 FULL
Transparency: All involved stakeholders have full insight into the RMS.Individual: A good RMS takes the factors of culture and the individual seriously and is aligned accordingly.
Uncertainty: An uncertain future is a central component of an RMS and in this respect is considered as a given.Decisions: If decisions are taken that affect the future of the company, an RMS should be used.Integration: If the decision is taken to implement RMS within a company, it must be integrated into all areas.Value: An RMS ensures that company goals are met, thereby creating value.They clarify the importance of risk management and provide basic instructions for structuring a risk management system. With 11 principles, ISO 31000 specifies a framework which the subsequent models of the standard can be based on.