Tag: enterprise risk management

ISO 31000

The International Organization for Standardization (ISO) in Genève started in 2005 the development of a guidance standard on risk management. An ISO working group was established to develop a Committee Draft called ISO CD31000. The standard “gives generic guidelines for the principles and the adequate implementation of risk management. It is not intended to be used for the purposes of certification.”

The launch is expected soon. It “proofs” that risk management is mature. We think that ISO 31000 will be invaluable to ensure Enterprise Risk Management programs within all public entities. It will add value to all our organizations by helping with implementation of the latest and best global risk management practices. The standard is good but should of course be implemented. That will be an investment, but PRIMO believes will always pay off in the complexity of politics, government, management and society.

ISO 31000 is very similar in some respects to ISO 9000 and other broad based international standards. Though it will not be not certifiable. It is in our view a concise and comprehensive statement which can in practical sense contribute to the awareness and implementation of public risk management. PRIMO will follow the development on broader scale. Colleagues in The Netherlands are involved in the elaboration process. We welcome ISO 31000.

The top 10 business risks for 2009

“What challenges are likely to affect your company in 2009 and beyond? The credit crunch aftershocks and the deepening global recession, rank as the most important business risks for 2009, displacing regulation and compliance from the top spot. Green initiatives, competition from new entrants, human capital issues, and reputational risk all rose in the new Ernst & Young report.

It identifies the top 10 global business risks

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