What is BS EN 62198 - Risk management guidelines about?
BS EN 62198 is a technical specification that provides principles and generic guidelines on managing risk and uncertainty in projects. BS EN 62198 describes a systematic approach to managing risk in projects based on ISO 31000, Risk management – Principles and guidelines.
Guidance is provided on the principles for managing risk in projects, the framework and organizational requirements for implementing risk management and the process for conducting effective risk management. BS EN 62198 is not intended for the purpose of certification.
Who is BS EN 62198 - Risk management guidelines for?
BS EN 62198 on risk management guidelines is useful for:
- Payment card industry data security standard (PCI-DSS)
- The energy and utilities industry
- The healthcare industry
- The banking industry
- Quality assurance management
- All businesses, organisation and institutions
Why should you use BS EN 62198 - Risk management guidelines?
Every project involves uncertainty and risk. Project risks can be related to the objectives of the project itself or to the objectives of the assets, products, or services the project creates. BS EN 62198 provides guidelines for managing risks in a project in a systematic and consistent way. Risk management includes the coordinated activities to direct and control an organization with regard to risk. ISO 31000, Risk management – Principles and guidelines, describes the principles for effective risk management, the framework that provides the foundations and organizational arrangements for designing, implementing, monitoring, reviewing, and continually improving risk management throughout an organization and a process for managing risk that can be applied to all types of risk in any organization. BS EN 62198 provides users with the general principles and guidelines applied to managing uncertainty in projects for best industry practice and global acceptance. BS EN 62198 can also be applied to sub-projects and to sets of inter-related projects and programmers.
The application of BS EN 62198 needs to be tailored to each specific project. Therefore, it is considered inappropriate to impose a certification system for risk management practitioners. The guidance provided in BS EN 62198 is not intended to override existing industry-specific standards, although the guidance can be helpful in such instances.
