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.
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