11. Dynamic, iterative risk management responsive to change
This section details the key stages of the risk management process as set out and suggested by the standard ISO 31000 :2018 . These four steps are risk identification, risk assessment with a view to prioritization, definition of risk treatment methods and risk monitoring. They are iterative, with a view to continuous improvement.
11.1 Risk identification and iterative review approach
Risk identification is based on the above elements. It consists of identifying risks on the basis of possible futures (risk mapping, scenarios, stress tests, risk analyses) as well as past events (feedback, crises, incident databases, customer complaints, etc.). It also involves drawing on previous risk...
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Dynamic, iterative risk management responsive to change
Risk management: facilitating continuous organizational improvement
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