Achieving the ISO 31000 certification will send a clear message to your employees, customers, and other stakeholders that you are committed to managing risks in every part of your business. It will protect your business from internal and external threats while increasing public confidence in your management abilities. This will enhance your company’s reputation and give you a competitive advantage when bidding for commercial tenders.
Public, private and community enterprises can all benefit from ISO 31000 because it covers most business activities, including research, planning, management and communications. Although you probably manage risk to some extent, this international standard will provide you with best practice management techniques. It will enable you to analyse your risks and opportunities across all business functions, at all times, and at every level of management.
Here are some benefits of using the ISO 31000 framework:
- Improve operational efficiency and governance
- Increase stakeholder confidence in your risk management techniques
- Strengthen operational controls, including mandatory and voluntary reporting
- Improve your business performance, crisis management and organisational resilience
- Respond to change effectively and protect your business as you grow