ISO 31000 is the international standard for Risk Management, providing principles, framework and a process to manage risks. It assists you in identifying potential risks that could jeopardize the completion of important objectives, as well as understanding risks that must be taken to achieve primary objectives before they have an impact on the business. An effective Risk Management System defines the process of establishing a coordinated and cost-effective deployment of resources to reduce, monitor, and control the likelihood and impact of unfavorable events. The
An organization depends on assessing and updating various things that optimize their processes, for their long term development. It also includes managing unexpected risks. It assures operational continuity, economic flexibility, professional outcomes, environmental and safety outcomes.
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