The framework of 31000 follows the Plan, Do, Check, Act model, like other global management system standards. The standard also provides practical guidelines on how to;
- implement risk management
- identify risks
- manage risks
- improve organizational performance
- maximize opportunities and minimise losses
- maintain raise awareness of opportunities and risks
Risk Management Approach
Corporate governance is the way an organization is controlled to achieve its objectives. Control offers reliability within a tolerable degree of certainty. It is the ‘glue’ that holds an organization together, while risk management provides resilience.
A risk management system depends on management commitment and allocation of resources during design, implementation, maintenance and monitoring the process at all levels.
Resources include assignment of competent people, accurate forecasting and spending, quality material, adequate and sufficient equipment, appropriate and efficient methods, marketing the management system inside and outside the organization.
Management must set the tone for honest communication and reporting at all levels, to ensure reliable data, information, appropriate decisions, accountability and responsibility.
We’d like to support you in managing your long term risk requirements.