Description

This Handbook provides guidance on the implementation of AS/NZS ISO 31000:2009, Risk management - Principles and guidelines (the Standard). The Standard defines the concept of risk, explains how it comes about, and describes the principles, framework and process that allow risk to be managed effectively.

The Handbook expands on and explains these elements and provides advice about applying the Standard, including using it to evaluate and improve existing risk management practice.

Scope

The Standard is suitable for use by newly established organizations to guide the arrangements to be put in place to manage risk, and also by other organizations to evaluate and improve the effectiveness of their existing arrangements. The guidance in the Standard is generic, therefore enabling the varying characteristics of individual organizations to be taken into account. Because successful risk management ultimately depends on the application of the risk management process to individual decisions, it is neither intended nor suitable to be used for certification of either individuals or organizations.

Essential to understanding the scope of the Standard is an understanding of the broad meaning of the word ‘organization’ as used throughout the Standard (and this Handbook). It is used as a convenient term to describe any entity that is able to establish and pursue objectives, and therefore ranges from an individual to all forms of public, private and community enterprise, association or group, to communities, governments and their agencies, and international bodies.