ISO 31000 Revision

Today I received notice that the draft version of the revised ISO/DIS 31000 Risk Management is now available. This revision is already a while due and took some time to reach a certain level of consensus. Going through the document, it doesn’t appear to me as a drastic change, nor a real improvement regarding the understanding of risk management.

Remarkably, in this version, only eight definitions show up in the document, leaving all other definitions to ISO Guide 73. To me this is rather sad, as it is a choice leading to the past and not the future. In its actual version, ISO 31000 only holds the neutral and encompassing definitions of risk, leaving the more specific definitions to the ISO Guide 73. As such, this was a strong statement for risk in itself being neutral. It seems that this understanding is now lost because maybe to much controversial for some sectors and industries, renown for their risk appetite (and associated disasters!).

Furthermore, the structure of principles, framework and process seems to remain intact, although the graphics have changed. At first sight, not really to my liking I must say. Although I understand the change in graphics, I think the graphics will need more explanation than before.

However, further study and comparison of the document will have to show me whether to be disappointed or not. To be continued!

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