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MS ISO 31000 : 2010
RISK MANAGEMENT - PRINCIPLES AND GUIDELINES ON IMPLEMENTATION

 

This Malaysian Standards provides principles and generic guidelines on principles and implementation of risk management. This standard can be applied to any public, private or community enterprise, association, group or individual. This standard is generic and not specific to any industry or sector but relevant to all. This standard will facilitate enforcement agencies and other relevant interested parties to comply, implement and continuously improve a framework whose purpose is to integrate the process for managing risk into the organization's overall governance, strategy and planning, management, reporting processes, policies, values and culture.

 

Related Standards:

MS ISO GUIDE 73 : 2010
RISK MANAGEMENT - VOCABULARY

This Malaysian Standard provides the definitions of generic terms related to risk management. It aims to encourage a mutual and consistent understanding of, and a coherent approach to, the description of activities relating to the management of risk, and the use of uniform risk management terminology in processes and frameworks dealing with the management of risk. This Malaysian Standard is needed as it provides basic vocabulary to develop common understanding on risk management concepts and terms among organizations and functions, and across different applications and types. This standard will facilitate the relevant interested parties to have common understanding on risk management concepts and terms among organizations and functions, and across different applications and types.

 

MS IEC/ISO 31010 : 2011
RISK MANAGEMENT - RISK ASSESSMENT TECHNIQUES

This Malaysian Standard provides guidance on selection and application of systematic techniques for risk assessment and is a supporting standard for MS ISO 31000.  Risk assessment is carried out in accordance with this standard contributes to other risk management activities. This standard is not intended for certification, regulatory or contractual use. Risk Management is so important that it merits every organization to set up its own Enterprise Risk Management which integrates with its corporate governance process, operational, strategic and corporate planning process, budgeting, internal and external threats, and internal controls. By implementing proper Risk Management it will lower Risk Management costs, enhancing competitive advantage, market confidence, high stakeholders values with high trust even though some unforeseen circumstances may be expected. The standard will provide uniformed and guided techniques for risk management practitioner to embark on the risk assessment process as defined in MS ISO 31000. The risk assessment is not a stand-alone activity, hence it should be fully integrated into the other components in the risk management process. Therefore the standard supports the ISO 31000 Risk Management – Principles and Guidelines which has been adopted as a Malaysian Standard.

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