ISO 31000 (Risk Management)

There is no opportunity in life or business that does not come with risk – the question, therefore, is how much risk are you willing to bear? How can you predict and describe the transformation of your organization’s complex risk habitat? What strategies can you use to steer your company towards sustainable development? What institutional and organizational preconditions need to be in place for effective implementation of these strategies?

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What is ISO 31000

Risk is the effect of uncertainty on the achievement of objectives, and Risk Management is for those who want to understand the uncertainty involved in achieving their objectives and who want to manage their risks so as to ensure a successful outcome. 

If Risk is defined as the “probability or threat of a damage, injury, liability, loss, or other negative occurrence that may be neutralized through pre-mediated action,” then Risk Management according to ISO 31000 is exactly that pre-mediated action that reduces risk to an acceptable minimum.  It regulates the requirements of the risk management process and introduces the methodology of risk analysis. It also  facilitates the application of many sector-specific standards, especially in the financial sector but also for IT, medical devices, or the automotive industry.

Risk Management covers risks both operational and strategic in nature, with a special focus on their interaction and development over time.

Risk Management is a tool for companies of any business sector that would like to use their management system to identify and analyze risks at an early stage, in order to make them controllable. The implementation of Risk Management increases both the awareness of risk and of opportunity, and their pro-active approach helps to ensure positive business development in the future. Thus the management of risk is woven into the organizational fabric and culture across the organization.

Benefits of ISO 31000

  • Supplies facts for the evaluation of performance and results,
  • Manages opportunities as well as risks Increase the likelihood of achieving objectives
  • Develop a risk management strategy and contingency plans
  • One integrated system to identify, analyze and evaluate risks
  • Strategic early warning system
  • Minimize the uncertainty of outcomes
  • Ensures the availability of resources, financial and otherwise

Certifications Process

The process starts with the client’s needs and expectations. DQS wants to learn about the client’s organization, its management system, size and types of operation. Together both parties will define objectives for the assessment and/or certification, including applicable standards and specifications.

DQS will provide a detailed offer for assessment and certification services, tailored to individual client needs, based on the information provided initially. A written contract will specify all relevant deliverables as well as applicable assessment and certification criteria.

A pre-audit can serve as initial performance or gap analysis, identifying strengths and areas for improvement. For larger assessment and certification projects a project planning meeting provides a valuable opportunity for the client to meet the lead assessor and develop a customized assessment plan for all functions and locations involved. Both services are optional.

The assessment procedure itself begins with review and evaluation of system documentation, goals, results of management review and internal audits. During this process, it will be determined whether the client’s management system is sufficiently developed and ready for certification. The assessor will explain findings and coordinate any required activities to prepare for the on-site system assessment.

The assigned auditor team will audit the client’s management system at the place of production or service delivery. Applying defined management system standards and specifications, the assessment team will evaluate the effectiveness of all functional areas as well as all management system processes, based upon observations, inspections, interviews, review of pertinent records, and other assessment techniques. The audit result, including all findings will be presented to the client during the closing meeting. Required action plans will be agreed upon as necessary.

The independent certification function of DQS will evaluate the audit process and its results, and decide independently about issuance of the certificate. The client receives an audit report, documenting the audit results. When all applicable requirements are fulfilled the client also receives the certificate.

Either semi-annually or at least once per year, there will be an on-site audit of the critical components of the management system. Improvement potential will be identified, with a focus on continual improvement and sustained effectiveness.

A management system certificate is valid for a limited period of time, frequently for a maximum of three years. At the end of this cycle, a re-audit will be carried out to ensure the ongoing fulfillment of all applicable requirements. Subject to this fulfillment, a new certificate will be issued.

Why DQS?

DQS is one of the leading Management System Certification, Audits, Assessment & Training organization globally. 

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Truly Global Brand

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Expert Auditors with High Emotional Intelligence

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Customized, Comprehensive & Actionable Insights

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Want to Know more?

Ph: (080) 6661-6565 | +91 8088421106 | E: Sales.Support@dqs-india.in