Risk Management

ISO 31000 Enterprise Risk Management Consulting

ISO 31000:2018 · Risk Management Guidelines

For leadership teams that want a consistent, practical way to identify and manage risk across the business. We assess current risk practices, design an ISO 31000-aligned framework, define risk appetite, build the risk register and reporting, and coach risk owners to run it.

Reviewed by Santhosh K, Principal GRC Advisor, CyberWave GRC · CISA, CISM, CCISO, HITRUST CCSFP, CHQP, ISO/IEC 27001 Lead Auditor

What is ISO 31000:2018?

ISO 31000 provides principles, a framework, and a process for managing risk. Unlike certification standards, it offers guidelines applicable to any organization regardless of size, activity, or sector.

Key Focus Areas

Enterprise risk management (ERM) framework

Risk identification and analysis

Risk evaluation and prioritization

Risk treatment and mitigation strategies

Risk communication and consultation

Monitoring, review, and reporting

Risk appetite and tolerance definition

Integration with organizational governance

What our engagement includes

Current-state risk management assessment

Risk management policy and framework

Risk appetite and tolerance statements

Risk assessment methodology and register

Risk reporting for leadership and the board

Risk owner training and coaching

How the engagement works

ERM Framework Design

We design enterprise risk management frameworks aligned with ISO 31000 principles.

Risk Assessment Workshops

We facilitate risk identification and assessment workshops with key stakeholders.

Risk Register Development

We build comprehensive risk registers with treatment plans and ownership.

Risk Appetite Definition

We help define and document organizational risk appetite and tolerance levels.

Monitoring & Reporting

We implement risk dashboards and reporting frameworks for ongoing visibility.

Timeline and cost factors

Typical timeline: 2–4 months for framework design and initial implementation. Cost depends on scope, organization size, number of locations and systems, current maturity and how much hands-on implementation support you need. Any certification, assessment or audit body fees are separate and set by that body.

Questions buyers ask

No. ISO 31000 is a guidance standard and is not intended for certification. Organizations use it to design their risk management approach and can be assessed against it informally.

ISO 27001 requires an information security risk process, and many organizations base that process on ISO 31000 principles. One method can serve both.

It describes how much risk leadership is willing to accept in pursuit of objectives. It gives managers a clear basis for deciding which risks to treat.

Each risk has a named owner who is accountable for its treatment. We help separate risk owners from control owners so responsibilities stay clear.

Review frequency depends on the risk, but key risks are usually reviewed at least quarterly and whenever significant changes occur. We set a review cycle that fits your governance calendar.

GRC Consulting Services Risk owner vs control owner Building a resilient GRC program

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