Risk management

Two new risk management standards, 'ISO 31000 Risk management - Principles and guidelines' and 'BS 31100 Risk management - Code of practice', now provide the basis for a common framework and vocabulary for risk management that is relevant and applicable to all industry sectors and sizes of organisation.

Every business has to address the challenges of operational risk. Using the expertise of our parent organisation, Lloyd’s Register, which has many years’ experience of helping clients manage high risk operations, LRQA has developed a number of bespoke risk management services. These have been designed to help clients develop their own robust risk management approaches to effectively manage operational risk.

ISO 31000 and BS 31100 are not intended for use as certification standards. However, they do provide the opportunity and foundation for existing management systems users to develop an effective risk management approach to address operational risk.

LRQA can help clients to optimise their current certified management systems by incorporating effective risk management methods and controls that provide a managed solution for continued business success. These include:

• Customised gap analysis and risk management audits that focus on a client’s ability to identify and manage operational risk so that they develop a robust and practical risk management approach to protect their operations.

• Foundation-level training for those wishing to gain a more practical understanding of business risk management requirements and techniques.

• Risk management maturity evaluation for existing risk management systems, developed before ISO 31000 and BS 31100. Using our bespoke R3M methodology, we evaluate the effectiveness and maturity level of a client’s risk management approach to ensure they understand the current risk management capability and how it could be improved. R3M can be tailored for specific needs and to provide the basis for benchmarking and risk management improvement. Not reliant on prescriptive processes, evaluation is based on the overall risk management approach using diagnostic tools, analysis and data synthesis.

How can LRQA's risk management services benefit you?

LRQA can provide risk management services to help any organisation, whether at foundation level to provide guidance on development of an effective approach to manage operational risk, or for organisations with an already established risk management approach that need to establish levels of maturity and effectiveness.

Your next step

Interested? For further information complete our enquiry form or call 0800 783 2179.

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