Risk management standards

There are many commercial risk assessment and risk tracking products on the market, and some of those may have enough market penetration to claim to be de facto standards.

However, there is one true 'national' standard available - the Australian and New Zealand Standard for Risk Management AS/NZS 4360. The overall risk management process described in AS/NZS 4360 is shown in the diagram below

Figure 4 - The AS/NZS 4360 risk process

Although there is no international equivalent of AS/NZS 4360, the International Organisation for Standardisation (ISO) has recently issued a background document, ISO/IEC Guide 73: 'Risk Management - Vocabulary - Guidelines for use in standards'. This document standardises the concepts and language to be used in other standards.

As can be seen from Section 3 there are plans to produce an ISO Risk Management standard (ISO 27005) but the exact form of this is not yet known.

Risk assessment methodology based on AS/NZS 4360
The risk register
Benefits of good risk management