Be an internationally certified Risk Management Professional

We have three Risk Management Courses being readied for launch. These are...

• Course 725: ISO-IEC 31010, Risk Management - Foundation (published) 

• Course 726: ISO-IEC 31010, Risk Management - Advanced (available in October 2023)

• Course 725: ISO-IEC 31010, Risk Management - Expert (available in November 2023.

For background on the ISO Risk Assessment Standards and details of the Courses, read on...

deGRANDSON's Risk Management Courses

deGRANDSON's Risk Management courses --  Foundation, Advanced, and Expert Levels -- provide you with the Tools, Skills, and Knowledge necessary to plan, implement, and maintain a Risk Management Programme for your organization.

If you search ISO standards for 'risk management,' you will find several standards, some of which are published as guidance documents to management system standards (e.g., ISO 27005 in support of the Information Security Standard, ISO 27001), ISO 31000 and this Standard, ISO-IEC 31010. So,…

What is IEC 31010:2019?

• The Standard introduces selected techniques and compares their possible applications, benefits, and limitations.
• The potential audience for this Standard includes:
  • Anyone involved in assessing or managing risk;
  • People who are interested in developing guidance that sets out how risk is to be assessed in specific contexts;
  • People who need to make decisions where there is uncertainty, including:
    • those who commission or evaluate risk assessments,
    • those who need to understand the outcomes of assessments and
    • those who have to choose assessment techniques to meet particular needs.
  • Organizations conducting risk assessments for compliance or conformance purposes would benefit from using these appropriate formal and standardized risk assessment techniques.

How ISO-IEC 31010 is related to ISO 31000

ISO 31000, Risk Management – Guidelines

While its title might suggest that it contains practical advice on managing risk, it does not.  ISO 31000 is devoted to exploring a framework for understanding risk when defined as the 'effect of uncertainty on objectives.'  And so, for direction and practical advice on risk management (i.e., actual guidelines), we must look elsewhere.

ISO-IEC 31010, Risk Assessment Techniques

This International Standard was prepared by IEC Technical Committee 56: Dependability, in co-operation with ISO Technical Committee 262: Risk Management.  It is published as a double logo standard, i.e., ISO/IEC.

It provides guidance on the selection and application of various techniques that can be used to help improve the way uncertainty is taken into account and to help understand risk.

The techniques are used:

• where further understanding is required about what risk exists or about a particular risk;
• within a decision where a range of options, each involving risk, need to be compared or optimized;
• within a risk management process, leading to actions to treat risk.

The techniques are used within the risk assessment steps of identifying, analyzing, and evaluating risk as described in ISO 31000 and, more generally, whenever there is a need to understand uncertainty and its effects.

You can visit our Risk Management Courses page for full details of the various Courses available if you'd like.

Related Courses

• Course 725: ISO-IEC 31010, Risk Management - Foundation 

• Course 726: ISO-IEC 31010, Risk Management - Advanced (available in October 2023)

• Course 725: ISO-IEC 31010, Risk Management - Expert (available in November 2023.

Related Articles

• ISO 14971: Choosing the Right Risk Management Tool
• ISO 14971 Risk Management: 12 FAQs answered

deGRANDSON Global is an ISO Certified Educational Organization

We have chosen ISO 21001 certification because it is based on independent third-party assessment, unlike IRCA and Exemplar badges (which we believe are commercially compromised).  It is a ‘university grade’ standard in use globally by schools, colleges, and universities to demonstrate their competence.