Iso 31000 Risk Management Checklist

Updated: over a week ago

ISO 31000 Risk Management Checklist

Framework

1. Mandate and Commitment Have we: (a) defined and endorsed a risk management policy (b) determined risk performance indicators (c) aligned risk objectives and indicators to organizational objectives and indicators (d) ensured legal and regulatory compliance


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2. Organization and its context in designing our risk framework have we: (a) evaluated external context (b) evaluated internal context


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3. Does our policy include: (a) rationale for managing risk (b) accountabilities (c) how conflict of interest is dealt with (d) links between organizations objectives and risk policy (e) commitment to resource risk management (f) how risk performance managed, measured and reported (g) commitment to review and improve the policy


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4. Have we established accountability, authority and competence for managing risk?


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5. Do we: (a) identify risk owners (b) identify responsibility for our framework (c) identify risk responsibilities (d) establish performance measures and reporting and escalation processes (e) ensure appropriate levels of recognition


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6. Is risk management embedded into our practices and processes in a way that is relevant, effective and efficient?


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7. Have we allocated appropriate resources for risk management?


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8. Including a consideration of: (a) people (b) organizational processes, methods and tools (c) documented processes and procedures (d) information and knowledge management systems (e) training


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9. Reporting Have we established internal communication and reporting mechanisms for risk management?


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10. Reporting Have we determined and implemented how we will communicate with external stakeholders?


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11. In implementing our framework can we show we have: (a) applied risk management policy to organizational processes (b) complied with legal and regulatory requirements (c) ensured decision making is aligned with risk management processes (d) held information and training sessions (e) communicated and consulted with stakeholders


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12. Do we: (a) measure risk management performance against indicators (b) measure progress against risk management plans (c) review whether the framework and policy are still appropriate (d) report on risk (e) review the effectiveness of the framework Do we continually improve the risk policy, framework, plans?


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Process

1. General Is the risk management process: (a) an integral part of management (b) embedded in culture and practices (c) tailored to our organisation


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2. Can we demonstrate communication and consultation with external and internal stakeholders at all stages of the risk management process?


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3. Can we demonstrate we have considered internal and external context, factors and how they relate to the scope of the particular risk management process?


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4. Have we defined the criteria to be used to evaluate the significance of risk?


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5. Have we identified sources of risk, areas of impact and their causes and potential consequences?


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6. Have we applied risk identification tools and techniques?


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7. Do we use people with appropriate knowledge for risk identification?


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8. Do we have processes to consider causes and sources of risks, their consequences and the likelihood of the consequences to occur?


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9. Do we compare the level of risk found during analysis process to our risk criteria to determine the need for treatment or further analysis?


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10. Options Do we have processes for selecting treatment options that consider stakeholders, legal, regulatory and context?


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11. Do we have processes to identify new risks introduced through treatment?


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12. Does the treatment plan identify priority order for risk treatments?


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13. Plans Do we document how our risk treatment will be implemented?


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14. Do we include: (a) reasons for selection and expected benefits (b) responsibilities (c) proposed actions (d) resource requirements (e) performance measures (f) reporting and monitoring requirements (g) timing


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15. Have we included regular checks or surveillance in our risk processes at all levels?


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16. Have we defined responsibilities for monitoring and review?


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17. Do we check progress of risk treatment plans?


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18. Do we report results of monitor and review?


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19. Are our processes traceable?


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20. Have we retained suitable records?


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Checklist by GoAudits.com – Please note that this checklist is intended as an example. We do not guarantee compliance with the laws applicable to your territory or industry. You should seek professional advice to determine how this checklist should be adapted to your workplace or jurisdiction.

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