ISO/IEC 31010 Standard

Description

ISO 31010 introduces the reader to the application of a range of risk assessment techniques, with specific references to other international standards where the concept and application of techniques are described in greater detail.

The purpose of risk assessment is to provide evidence-based information and analysis to make informed decisions on how to treat particular risks and how to select between options.

Principal benefits of a performing risk assessment include:

• Providing objective information for decision makers.
• An understanding of the risk and its potential impact upon objectives.
• Identifying, analysing and evaluating risks and determining the need for their treatment.
• The quantification or ranking of risks.
• Contributing to the understanding of risks in order to assist in the selection of treatment options.
• Identification of the important contributors to risks and weak links in systems and organisations.
• Comparison of risks in alternative systems, technologies or approaches.
• Identification and communication of risks and uncertainties.
• Assisting with establishing priorities for health and safety.
• Rationalising a basis for preventive maintenance and inspection.
• Post-incident investigation and prevention.
• Selecting different forms of risk treatment.
• Meeting regulatory requirements.
• Providing information that will help evaluate the tolerability of the risk when compared with pre-defined criteria.

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