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ISO 31000

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ISO 31000 Overview

Risk refers to a threat to the business ability to achieve a business goal, and risk management is identifying, analysing, and managing the threats to an organization. To help businesses with any uncertainty and risk, ISO 31000 has been developed, and it is a risk management standard set by the International Organization for Standardization.

ISO 31000 is an international standard that outlines how to manage any type of risk/threat in any business activity. The standard outlines the principles, risk management framework, and risk management process implementation.

ISO 31000 framework is not industry or sector-specific; it can be applied by any public, private, or community-based business, association, group, or individual. As a result, this standard can be used for a wide range of activities, including strategies and decisions, operations, processes, functions, projects, products, services, and assets throughout the life of a business.

Certification Process

The ISO 31000 risk management process is divided into three stages.

Establishing the context:- Organizations should define the risk assessment’s context in both internal and external elements. The actual result from this step is determining the risk assessment’s objectives and scope. The organization should have a clear statement of purpose of the evaluation, and everyone participating should be aware of the scope of the assessment, including business processes and technology.
Gap Analysis:- CUNIX consultant will come to your organization to examine and document your current processes and procedures. The consultant will then highlight any areas that do not match the Standard’s requirements by identifying, analysing, and evaluating risks. These are all key steps in the risk management process. The organization creates a complete inventory of the risks that could hinder it from reaching its goals and the causes and potential results of those risks materializing during the risk identification process. This information is carefully addressed during the risk analysis, where the organization conducts qualitative and quantitative assessments of the risks. The risk assessment stage concludes with the risk evaluation step, in which the organization determines which risks are substantial enough to warrant active management and prioritizes the list.
Implementation:- The organisation establishes risk-reduction controls, evaluates those controls’ effectiveness, and implements additional controls as needed. For example, controls implemented during the risk management stage may include efforts to reduce the risk or impact of a threat, eliminate risk by changing business processes, take justified risks, and transfer risk to third parties such as insurance companies.

Why CUNIX?

CUNIX projects are lead by consultants with an average industry experience of 25+ years, of performing in various roles and providing consultancy in the field of QMS Quality Management System.
CUNIX has done consulting projects in 20+countries and hence can boast of having multi-cultural, multi-lingual experience and successes.
650+ projects, including 120+ projects on various ISO standards, SOC, GDPR, HIPAA etc. completed till March 2023.
CUNIX has provided ISO consulting services to diverse industries like Manufacturing to Banking, I.T. to Health-Care, Engineering Services to Automation and many more.
CUNIX has consulted organization of all sizes, from small to medium to large sizes, in terms of people, towards success in their quality initiatives.
CUNIX has deep tie-ups with all types of certification bodies and can provide end-to-end experience to the clients, as per their requirement.
CUNIX is one of India's leading Consultants, for ISO consulting services, ISO training and ISO audit or assessments globally.

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