BS 31100:2011 Risk management. Code of practice and guidance for the implementation of BS ISO 31000
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- Product Code: BS 31100:2011
- Category: BOOKS
- Sub Category: BSI Environmental Management Publications (BS & ISO)
Created by the UK risk management experts, BS 31100:2011 gives you practical and specific recommendations on how to put the key principles of effective risk management into place in your organization using real life case studies.
Do you want to implement the key principles and guidelines of risk management as specified in ISO 31000:2009 ?
If you do then you must be someone that appreciates that risks are managed best when a defined process, which optimise the chance of a successful outcome is used, rather than using instinct.
How can you save time working out how to create and implement 'a defined risk management process' in line with ISO 31000?
If you work for a large organization, for example, you may have many groups and many processes, each with their own scope, meetings, documents or methods.
This could be because they're working at different management levels, using different perspectives or focusing on different types of risks.
BS 31100:2011 outlines risk management process that can be followed and interpreted so that each group works in a way that is appropriate for them, increasing the chance that the best outcome is achieved.
Also, using a common process and language, the consistency and communication across your company regarding managing risks should improve.
What can a defined risk management process do?
It can help your organization to:
•achieve its objectives
•ensure risks are managed proactively in specific areas or activities
•oversee risk management
•get assurance about the effectiveness of your company’s risk
management
•report to stakeholders, e.g. through disclosures in annual financial
statements, corporate governance reports and corporate social responsibility
reports
What are the ‘key principles’ of ISO 31000:2009?
•Risk management creates and protects value
•Risk management is an integral part of all organizational processes
•Risk management is part of decision-making
•Risk management explicitly addresses uncertainty
•Risk management is systematic, structured and timely
•Risk management is based on the best available information
•Risk management is tailored
•Risk management takes human and cultural factors into account
•Risk management is transparent and inclusive
•Risk management is dynamic, iterative and responsive to change
•Risk management facilitates continual improvement of the organization.
How does the BS 31100 fit with ISO 31000:2009 and ISO Guide 73?
This edition of BS 31100 matches the structure, terminology and diagrams of ISO 31000:2009 and expands on the recommendations given in the previous version of BS 31100.
What exactly does BS 31100:2011 include?
•Foreword
•Introduction
•1 Scope
•2 Terms and definitions
•3 Framework
•3.1 General
•3.2 Mandate and commitment
•3.3 Design of framework for managing risk
•3.4 Implementing risk management
•3.5 Monitoring and review of the framework
•3.6 Continual improvement of the framework
•4 Process
•4.1 General
•4.2 Communication and consultation
•4.3 Establishing the context
•4.4 Risk assessment
•4.5 Risk treatment
•4.6 Monitoring and review
•4.7 Monitoring performance of the instance of the risk management process
•4.8 Providing information to others
•4.9 Recording the risk management process
Annexes
•Annex A (informative) Risk management tools
•Annex B (normative) Incorporating potentially positive consequences of risk
•Annex C (informative) Effects of controls
•Bibliography
List of figures
•Figure 1 – Risk management perspectives
•Figure 2 – Relationships between the context, principles, framework and process
•Figure 3 – Illustrative set of instances of the risk management process in a larger organization
•Figure 4 – Development of components of the risk management framework
•Figure 5 – Typical documentation for risk management
•Figure 6 – Items to include in the description of the framework
•Figure 7 – The risk management process
List of tables
•Table 1 – Examples of tailoring
•Table 2 – One possible breakdown of roles
•Table 3 – Leadership responsibilities
•Table 4 – Minimum responsibilities for everyone in the organization
•Table 5 – Role of a risk management function
•Table 6 – Items to cover related to risk management competence
•Table 7 – Features of risk identification
•Table A.1 – Examples of risk management tools (including techniques)
