Who uses it
Boards, risk managers and public bodies use it to build enterprise risk management.
How it is applied
- Current practice is compared with the guidance.
- Management agrees which parts apply and who owns them.
- Practices are adopted in policies, procedures and training.
- Results are reviewed after a set period and adjusted.
Cost drivers
Cost is mainly staff time and any outside support. The number of processes and teams involved decides the effort. No certification fees apply, as no certificate is issued.
Timeline
Most organisations adopt it in phases over several months. It can run alongside work on a certifiable standard.
Certification
ISO 31000 is guidance, so accredited certificates are not issued against it. Its approach supports the risk clauses of certifiable standards such as ISO 9001 and ISO/IEC 27001.
