ISO (International Organization for Standardization) describes a set of rules and regulation that guides the performance of an organization that should be in synergy with social factors and environment.

ISO standards:

§  make the development, manufacturing and supply of products and services more efficient, safer and cleaner

§  facilitate trade between countries and make it fairer

§  provide governments with a technical base for health, safety and environmental legislation, and conformity assessment

§  share technological advances and good management practice

§  disseminate innovation

§  safeguard consumers, and users in general, of products and services

§  make life simpler by providing solutions to common problems

There are many different ISO protocols followed by many industry types. One of them is

 ISO 31000:2009.

ISO 31000:2009 can be applied throughout the life of an organization, and to a wide range of activities, including strategies and decisions, operations, processes, functions, projects, products, services and assets.

ISO 31000:2009 can be applied to any type of risk, whatever its nature, whether having positive or negative consequences.

Although ISO 31000:2009 provides generic guidelines, it is not intended to promote uniformity of risk management across organizations. The design and implementation of risk management plans and frameworks will need to take into account the varying needs of a specific organization, its particular objectives, context, structure, operations, processes, functions, projects, products, services, or assets and specific practices employed.

It is intended that ISO 31000:2009 be utilized to harmonize risk management processes in existing and future standards. It provides a common approach in support of standards dealing with specific risks and/or sectors, and does not replace those standards.

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