What is this standard about?
It gives guidance on how to select and apply risk assessment techniques in a wide range of contexts. These techniques will help users make decisions where there’s uncertainty and provide information about particular risks as part of a risk management process. The standard summarizes a range of techniques and references other documents where these techniques are described in more detail.
Who is this standard for?
In particular, risk managers and organizations required to conduct risk assessments for compliance or conformance purposes. In addition, it will be useful to:
- Anyone involved in assessing risk
- People involved in developing guidance setting out how risk is to be assessed in specific contexts
- People who need to make decisions where there is uncertainty including those who:
– Commission or evaluate risk assessments
– Need to understand the outcomes of assessments
– Have to choose assessment techniques to meet particular needs
Why should you use this standard?
It gives guidance on the selection and application of various techniques that can be used to help improve the way uncertainty is taken into account and to help understand risk.
It works as an introduction to selected techniques and compares their possible applications, benefits, and limitations. It also provides references to sources of more detailed information.
NOTE 1: While this standard discusses and provides example techniques, the techniques described are non-exhaustive and no recommendation is made as to the efficacy of any given technique in any given circumstance. Care should be taken in selecting any technique to ensure that it is appropriate reliable and effective in the given circumstance.
NOTE 2: Good management practices should be followed throughout and are not repeated in this standard.
What’s changed since the last update?
This standard is a technical revision which replaces BS EN 31010:2010 Risk management - Risk assessment techniques. It includes the following significant technical changes:
- More detail is given on the process of planning, implementing, verifying and validating the use of the techniques
- The number and range of application of the techniques has been increased
- The concepts covered in BS ISO 31000 Risk management (which is a normative document) are no longer repeated in this standard
