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International Risk Management StandardInternational Risk Management Standard

AS/NZS ISO 31000AS/NZS ISO 31000

Peter Brass

General Manager

Risk Management & Audit

PIRSA

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Provides principles and guidelines on risk management. It is generic and not

developed for any specific industry or sector but risk per se.

Can be applied throughout the life of an organisation, and to a wide range of

activities, including strategies and decisions, operations, processes, functions,

proects, products, services and assets.

Can be applied to any type of risk, whatever its nature, whether having

positive or negative conse!uences.

"lthough I#$ %&'''()''* provides generic guidelines, it is not intended to

promote uniformity of risk management across organisations. +he design and

implementation of risk management plans and frameworks will need to takeinto account an organisations particular objectives, context, structureand operations. isk management should continue to develop organically.

I#$ %&'''()''* is not intendedfor the purpose of certification.

Astra!t o" ISO 31000#$00%Astra!t o" ISO 31000#$00%-#ource( I#$ ebsite on I#$ %&''' / &0 1une )''*2

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RIS ' e""e!t o" un!ertaint( on o)e!ti*es

NO+, 1 "n effect may be positive, negative, or a deviation from the e3pected.

NO+, $ "n obective may be financial, related to health and safety, or defined in otherterms.

NO+, 3 isk is often described by an event, a change in circumstances, a conse!uence,or a combination of these and how they may affect the achievement of

obectives.

NO+, - isk can be e3pressed in terms of a combination of the conse!uences of anevent or a change in circumstances, and their likelihood.

NO+, . 4ncertainty is the state, even partial, of deficiency of information related to,understanding or knowledge of, an event, its conse!uence, or likelihood.

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Risk Management & Managing RisksRisk Management & Managing Risks

In the #tandard, the e3pressions risk managementand

managing riskare both used.

In general terms, risk management refers to te

ar!ite!ture 2rin!iles4 "rame5ork and ro!ess6for

managing risks effectively, and managing risk refers to

al(ing tat ar!ite!tureto particular risks.

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Prin!iles "or managing risk 27lause 36Prin!iles "or managing risk 27lause 36

18 7reates *alue

$8 Integral art o" organisationalro!esses

38 Part o" de!ision making

-8 ,9li!itl( addresses un!ertaint(

.8 S(stemati!4 stru!tured & timel(

:8 Based on est a*ailale in"ormation

;8 +ailored

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>rame5ork "or managing risk 27lause -6>rame5ork "or managing risk 27lause -6

AS -3:0 ? 7o*ered artiall( in

Se!tion - ,stalising e""e!ti*e

risk management

Mandate &

!ommitment

=esign o" "rame5ork

>or managing risk

Imlementing

riskmanagement

7ontinual

imro*emento" te "rame5ork

Monitoring & re*ie5

o" te "rame5ork

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Pro!ess "or managing risk 27lause .6Pro!ess "or managing risk 27lause .6

AS -3:0 ? >ull( !o*ered in

Se!tion 3 Risk Management

Pro!ess

,stalising te 7onte9t

7ommuni!ation

&7onsultation

Anal(sis o" Risks

,*aluation o" Risks

+reatment o" Risks

Identi"( Risks Monitoring&

Re*ie5

Risk Assessment

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7omarison AS/NZS -3:0 & ISO 31000#$00%7omarison AS/NZS -3:0 & ISO 31000#$00%

,lements AS/NZS -3:0#$00- ISO 31000#$00%

Ali!ation 4niversal across all organisations5 "ustralasia but also widelyaccepted internationally

4niversal across all organisations 5International

7onte9t "or Risk Management "n organisation6s obectives "n organisation6s obectives

Prin!iles "or managing Risk Included as part of riskmanagement culture althoughmainly implicit.

Clause % and e3plicit / commonbusiness management principles

>rame5ork "or managing risk Covered in detail Clause 7 of standard. 83pands on7%0'

Risk Management Pro!ess Core of the standard Clause 9 of standard

Attriutes o" enan!ed riskmanagement

:ot covered "nne3 in %&'''. Informative only.

Guide to estalising and imlementinge""e!ti*e risk management rogram andali!ation o" risk management ro!ess

Covered in detail in @B -3:#$00- "nne3 in %&'''. Informative only.

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AS/NZS -3:0#$00- =e"initions ISO 31000 =e"initions 2ISO/I,7 Guide ;36

Risk 7an!e o" someting aening tat 5ill ima!t ono)e!ti*es

,""e!t o" un!ertaint( on o)e!ti*es

RiskManagement

7ulture4 ro!esses and stru!tures tat are dire!tedto5ards realiing otential oortunities 5ilst

managing ad*erse e""e!ts

7oordinated a!ti*ities to dire!t and !ontrol anorganisation 5it regard to risk

RiskManagement>rame5ork

Set o" elements o" an organisations managements(stem !on!erned 5it managing risk

Set o" !omonents tat ro*ide te "oundations andorganiational arrangements "or designing4 imlementing4monitoring4 re*ie5ing and !ontinuall( imro*ing riskmanagement trougout te organisation

RiskManagementPoli!(

Not defined Statement o" te o*erall intentions and dire!tion o" anorganisation related to risk management

RiskManagementPlan

Not defined S!eme 5itin te risk management "rame5ork se!i"(ingte aroa!4 te management !omonents andresour!es to e alied to te management o" risk

RiskManagementPro!ess

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Cat tis means to us8Cat tis means to us8

If you have followed 7%0' / impact of %&''' is minimal

Increased status of %&''' as international paramount standard /

referred e3plicitly in ;$#" isk

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SAI7ORP Ben!marking ProgramSAI7ORP Ben!marking Program

#elf5assessment used to participate in this program will help to review

e3isting risk management program

#elf5assessment will also helped to identify any amendments

re!uired as the tool used has been aligned with %&''' and

7lause 3 Prin!iles

7lause - >rame5ork &

7lause . Pro!ess

>ocuments are available from +reasury website at

www.safa.sa.gov.au?insurance @urther information from >arryl Aruhn at >arryl.AruhnBsa.gov.auor

))0 %7)*.

http://www.safa.sa.gov.au/insurancemailto:Darryl.Bruhn@sa.gov.aumailto:Darryl.Bruhn@sa.gov.auhttp://www.safa.sa.gov.au/insurance

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DE,S+IONS FF