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IRM Supports New Guide to ISO 31000

The Institute of Risk Management has teamed up with AIRMIC and Alarm to produce a practical guide to the successful implementation of the international standard ISO 31000 'Risk Management – Principles and Guidelines', released at the end of 2009.
The new guide, entitled 'A structured approach to Enterprise Risk Management (ERM) and the requirements of ISO 31000' provides a helpful commentary on ISO 31000, as well as further guidance on successful implementation.

In particular the guide recognises that risk has both an upside and a downside and offers additional advice on various concepts including risk appetite.
Steve Fowler, Chief Executive of IRM, said:  “IRM firmly welcomes the new ISO 31000 document . Successful adoption of a risk management standard however requires a deeper understanding of the practical realities of implementation and this is what our new guide seeks to add."
In 2002 the IRM, along with AIRMIC and Alarm, issued 'A Risk Management Standard' - one of the very first international standards for risk management.

This standard has since been translated into over 15 languages and downloaded many thousands of times.  The IRM have decided not to withdraw the earlier document in the light of ISO 31000 because it still outlines a practical and systematic approach to the management of risk and still meets the needs of many smaller organisations worldwide.

Steve Fowler added: "The new ISO Standard is an extremely valuable resource for risk managers but it has been produced on a commercial basis and is, currently, only available in English.

Having members and students from around the world, IRM is keenly aware of the value of a standard that is both available in different languages and also free of charge.

That's why we have decided to maintain the original Risk Management Standard at the same time as seeking to add value to the new ISO standard. ”  

Note to Editors
The Institute of Risk Management was founded more than 20 years ago and is the leading professional education and training body, providing courses on risk management at a range of levels from introductory to expert.  With members in more than 50 countries, drawn from a variety of risk related disciplines and a wide range of industries, the Institute is governed by practising risk professionals and has strong, global links with academia and other risk and strategy organisations.
AIRMIC is the UK Association of Insurance and Risk Managers - see www.airmic.co.uk for further information.

Alarm is the UK public risk management association - see www.alarm-uk.org for further information.
Institute of Risk Management, 6 Lloyd’s Avenue, London, EC3N 3AX, UK
Tel: +44 (0)20 7709 9808 Fax: +44 (0)20 7709 0716 Web: www.theirm.org  
For further enquiries:
Carolyn Williams
Head of Thought Leadership
Institute of Risk Management
6 Lloyd’s Avenue, London, EC3N 3AX
Tel: +44 (0)20 7709 9808, Mobile: 07736900547
Steve Fowler
Chief Executive
Institute of Risk Management
6 Lloyd’s Avenue, London, EC3N 3AX
Tel: +44 (0)20 7709 9808, Mobile: 07952 257898

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