ISO 31000:2009, Risk Management- Principles and guidelines, provides principles, framework and a process for managing risk. The purpose of ISO 31000:2009 is to provide principles and generic guidelines on risk Management. ISO 31000 seeks to provide a universally recognized paradigm for practitioners and companies employing risk Management processes to replace the myriad of existing standards, methodologies and paradigms that differed between industries, subject matters and regions.
The scope of this approach to risk Management is to enable all strategic, Management and operational tasks of an organization throughout projects, functions, and processes to be aligned to a common set of risk Management objectives. Accordingly, ISO 31000:2009 is intended for a broad stakeholder group including:
1- Executive level stakeholders
2- Appointment holders in the enterprise risk Management group
3-Risk analysts and Management officers
4-Line managers and project managers
5- Compliance and internal auditors
6- Independent practitioners.