In this increasingly uncertain and risk filled environment as like natural calamity or man-made accidents including cyber-attacks resulting in data loss may occur at anytime. The risk may be start small, it may escalate to cause a major loss to the organization. For the reason, it is essential for the organizations to have a backup plan or an alternative to deal with the difficult situation timely to ensure smooth functioning of the business operations.
ISO 31000 is an international standard that provides guidelines for the effective risk management. Any organization can use these guidelines and principles regardless of sector and size. It can be used to by the organizations help manage operations, processes, assets, projects, products, and services. Additionally, the organization should consider ISO 22301 for the Business continuity management. With ISO 22301 the organization can protect and identify their business critical functions, and the competence to continue business operating during unanticipated events.
Every organization must take the benefit of the ISO 31000 and ISO 22301 international standards for managing risks efficiently in critical situations and continuing the business operations smoothly.
However, the extent of application of these standards depends on the organization’s functioning environment and complexity of the situation. To know more about ISO 31000 and ISO 22301 one can search on the internet.