Certifications
ISO 31000-Risk Management-Principles and Guidelines
Our Rating for the course :
4.8 Stars Based on 35 users
About ISO 31000-Risk Management-Principles and Guidelines
When management of risks are being managed effectively, it is often not being noticed. When the management of risks fails, the consequences for the customers and employees may be significant and administratively high profile.
Managing a good risk management practice ensures that the organization can undertake activities with the knowledge that measures maximum benefits and minimize the negative effect of uncertainties on the organizational objectives.
ISO 31000 recognizes that organizations generally operates in an uncertain world. Whenever the organization attempt to achieve an objective, there will always be a chance that things will not proceed according to the plan. There will always be the chance that the organization will not be able to achieve the expected outcome in some scenarios.
On every steps on which the organization is involved or engaged in order to achieve the objective will always be connected to uncertainty. Each and every step has an element and representation of risk that needs to be managed and controlled.
According to ISO 31000, the organization will be able to reduce the uncertainty and manage the risk, by means of a systematic approach to risk management. The conventional definition of uncertainty is a state of being that involves a deficiency of information and leads to the inadequate or incomplete knowledge or understanding.
ISO 31000 can be applied/implemented by any organization to achieve the objectives at all levels throughout the organization. The standard shall be used by the organization as a strategic or organization level process of risk management to assist the decision makers to make informed choices, identify priorities and select the most appropriate action. This will be used to manage processes and procedures, operations, functions, projects, programs, products, services and assets.
Good risk management contributes to the achievement of an organization’s objectives through the continuous review of its processes and systems.
Main Highlights
ISO 31000 is an international risk management standard. It can be used by any organization no matter what size it is or what it does, can be used by both public and private organizations and by groups, associations, and enterprises of all kinds. It is not specific to any sector or industry and can be applied to any type of risk.
The ISO 31000 standard outlines an approach to assist every organization to integrate risk management into their enterprise-wide risk management systems. Every organization is encouraged to consider the links between the foundations of the risk management framework and their organization objectives.
The ISO 31000 is an important tool for every organization in terms of the risk management, the implementation shall be supported by strong executive direction, a cultural change within the business and an underpinning system for it to make a real difference.
Brief about the ISO standard
An organization’s risk management framework needs to include the organizations policies, objectives and its commitment to risk management alongside to its legislative responsibility.
The risk management framework should be embedded within the organization’s overall strategic and operational policies and practices, and take into consideration internal and external relationships, accountabilities, resources, processes and activities.
Senior Executives within an agency are responsible for providing the strategic direction of the agency. This approach, while usually long term, describes the vision for the management of risk and what overarching outcomes will be achieved.
The standards will be able to establish and promote a basis for planning and decision making within the organization. It can help the organization to improve the day-to-day operational efficiency, effectiveness on the governance activities, to lead and elevate the trust and confidence of the stakeholders. It can help the organization to allocate, identify, treat risk and use risk treatment resources in order to minimize the organizations losses. The organization will be able to improve the use of risk management controls and incident management activities. To comply with legal and regulatory requirements along with the compliances with the international norms and standards. Enhances the organizations approach to environmental protection, health and safety performance.
BAS 4P methodology is the way of standardizing the client process and procedure in a systematic way. The 4P enables BAS and client to go through a series of activities that leads to certifications. The 4P methodology deeply analyze and reviews the process and procedure within the organization and improves overall performance of the organization and finally get certified.
BAS implements the following activities.
PREPARE
Understand the context
- Capture and review business goals to understand the context and client.
- Determine goals of the assessment of the client by questionnaire, interviews etc.
- Identify key stakeholders.
- Determine the scope (functional areas, geographical coverage etc) and timeline.
- Finalize scope, timeline and resource needs.
- Confirm approach and seek client commitment.
- Mobilize the Assessment project team.
- Schedule interviews.
- Hold a kick-off meeting.
PERFORM
Gather Data
- Gather and Analyze/Review existing documentation, portals, past audit reports, forms, metrics, data etc and understand how the operations is compliance with standards.
- Conduct interviews and workshops.
- Document survey results and preliminary ratings if any.
- Document preliminary findings.
- Assess environment and, gaining evidentiary support from interviews and documents.
- Identify key issues and challenges and seek agreements from stakeholders
- Implement and improve process and procedures
PRESENT
Develop Recommendations
- Identify opportunities to overcome identified issues and/or reach maturity levels.
- Prioritize alternatives.
- Develop recommendations and near-term timeline.
- Prepare final report.
- Preview final report with stakeholders and update as required.
- Present final report.
PURSUE
Continual Improvement
- Follow up with the organization and analyze the how the organization is compliance with the standards
- Check with the organization that the standards are being implemented and maintained.
- Evaluate the continual fulfillment and improvement of all the required and relevant documents.
Certification Details
BAS is a versatile ISO certification body, with various industrial expertise and strong exposures in the field of Quality, Health, Safety and Environmental, Service Management and Information Security Management. We provide reliable services in the UK, Middle East, India and Other countries.
We at BAS with our veteran assessors provide you with certification which provides value for your management system. Many clients around the world have greatly benefited through our exemplary service.
The following are the steps in this phase we do as part of certification
Contract signature
BAS representative sends out an application which is a questionnaire to the organization which is the applicant for the Certification.
Once BAS receives the filled in application, the BAS representative sends an official quote to the applicant for approval.
Pre-audit (optional):
Gap analysis and diagnosis of your systems current position against requirements of the standard - A pre-certification audit is a high level evaluation indicating where your company currently stands in compliance with specific standards before the main certification audit.
Audit Stage 1- Initial Visit: to verify the establishment and implementation of the basic structure of your Management System
BAS will carry out a Document review Assessment of the client’s Management System according to the requirements of Standard in order to establish to what extent the System addresses the requirements of the standard and if a subsequent Initial Assessment for Accredited Certificate is likely to result in successful certification at an early stage, by which usually companies take the necessary corrective/preventive actions as appropriate and prior to the Initial Assessment. The Pre-audit should not be considered as a Consultancy Service
Audit Stage 2 - Certification audit (certificate issued after successful certification audit)
The principal purpose of the Initial Assessment is to audit the Company’s Management Systems for compliance with the the standard. Please note that Initial Assessment is the obligatory service. In this phase if there are any opportunities for improvements identified BAS auditors would report them in the interest of the organization.
Surveillance audits to follow the continual improvement
It is also an obligatory service; BAS will perform Surveillance Visit approximately after every year i.e. a total of 3 Surveillance Visits will be performed every year during the 3 years validation period of the Certificate. Such routine surveillance Visits are performed to ensure the continuous compliance of your Management System to the requirements of Standards.
Re-certification after 3 years through full audit or continual assessment.
What we do?
- BAS can assist your organization to acquire any relevant ISO certifications in UAE which is well-known internationally. It will generate additional business opportunities, exhibit the organizations compliance and commitment to the best-practices in any industries in order to be more competitive in today’s market.
- We at BAS with our veteran assessors provide you with certification which provides value for your management system. Many clients around the world have greatly benefited through our exemplary service.
- When you choose BAS as your certification partner you stand to gain monetarily in your business by our straight forward assessment. The overall aim of certification is to give confidence to all parties that a management system fulfills specified requirements. The value of certification is the degree of public confidence and trust that is established by an Impartial and competent assessment by a third party.
- With BAS, you will have the capability to deliver on the promises you make – this helps you to enhance your reputation, creates confidence in your capabilities, substantiates claims and differentiates your organization;
- With BAS, Obtains the full tangible benefits and value of your management systems – this helps you to link assessment system benefits to financial performance or improvements in effectiveness and efficiency that help drive your business forward in measurable and verifiable ways; and develops your capability to better manage a range of non-financial risks.
- As an integral part of this process, BAS will evaluate the relevance of the quality objectives against the analysis of stakeholder expectations and strategic goals of the company. We will assess the capability of the management system in controlling the defined processes. We will assess the effectiveness of the management decision making in respect to this data and, on the basis of this assessment, we will help senior management identify any changes required to support continual improvement.
- Providing more opportunities for improvements than just performing a compliance audit against the standards requirements.
- Understand the local culture and working patterns of the clients will facilitate better communication and understanding between BAS and the clients.
- BAS possesses resources who have the knowledge and skills of multiple standards such as ISO 20000, ISO 27001, SKEA for eg., in Abu Dhabi for Business Excellence programs etc.,. This greatly helps the clients to have better inputs as the standards can be applied in an integrated way and the auditors can provide a holistic feedback.
- BAS has offices around the world and the auditors have access to the knowledge from all around the global parts which will be helpful to the clients as they can have a better understanding and more practical suggestions from BAS auditors.
- BAS location advantage within the Emirates on the following: Abu Dhabi, Dubai, Al Ain, Sharja, Ajman, Ras Al Kaimah and Fujairah (We have successfully completed many and different projects locally and also internationally).
- BAS strongly promotes and implements the facilitations on the relevant Management System not only for the sake of certification but to really make a difference in the processes and procedures that will be implemented throughout any organization.
- BAS consist of some project members which are also EFQM International Assessors this can add value to the assignment as Abu Dhabi government is highly recommending Organizational Excellence program across Abu Dhabi Emirate (and UAE).
