Opportunities carry both risks and chances. They are essential for a business to grow. However, a solid back-up plan has to be in place for every opportunity that surfaces. The right strategy has to be in place for every situation. External factors like market changes are considerably overestimated and, in contrast, internal risks are marginalised. The ISO 31000 and related ONR 49001 certifications associated with Risk Management can complement existing management systems such as the ISO 9001.
ISO 31000 utilises a list in order of preference on how to mitigate risks:
- Avoiding the risk by deciding not to start or continue with the activity that gives rise to the risk
- Accepting or increasing the risk in order to pursue an opportunity
- Removing the risk source
- Changing the likelihood
- Changing the consequences
- Sharing the risk with another party or parties (including contracts and risk financing)
- Retaining the risk by informed decision
Risks are usually undetected or estimated wrongly. This results in inaccurate allocation of priorities, unclear and undefined responsibilities, and a slowdown in the communication process. In a worst case scenario, a lack of risk consciousness can endanger the future of the entire company.
Within TÜV SÜD, internationally accredited certification bodies offer services for various management systems. We have extensive experience in auditing and certifying a wide range of internationally recognised management systems, including ISO 31000 and ONR 49001. Our experienced team of global experts will guide you through the process, from on-site audits to certification. We will help you to identify opportunities and minimise potential risks. By partnering with us, your company’s commitment to the highest standards will gain global recognition. Beyond the certification, we also provide you with periodic feedbacks on ways to improve your existing procedures to enhance your company’s existing efforts.