The standard can be applied to any type of organisations – public, private, community enterprise, association, group or individual and therefore is not sector specific. The standard is not intended to be used for certification purposes.
At the same time ISO has published ISO Guide 73:2009 – Risk Management Vocabulary which complements ISO 31000 by providing terms and definitions related to risk management. Some of the core terms and definitions from Guide 73 are also provided in ISO 31000.
The publication of both of these standards is the culmination of 4 years of work involving meetings, discussions and consultation of risk management and standard experts across 30 countries.
By implementing ISO 31000 organisations are developing their risk management system in line with an internationally developed and recognised benchmark standard.
NSAI, who participated in the development of both ISO 31000 & Guide 73, is currently developing further national guidance to ISO 31000 with input from up to 30 national risk management experts. NSAI will shortly publish a compendium document incorporating the national guidance with ISO 31000 as well as ISO Guide 73.