Processes of ISO 31000

Chuen Fei Lee, Sean Sik Lung Chan and Andeed Ma

Chapter 3 in Everyone is a Risk Manager:Mastering Enterprise Risk Management Across Industries, 2026, pp 21-78 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The following sections are included:Establishing the ContextExternal ContextInternal ContextRisk AssessmentUnderstanding the Risk Assessment ProcessIdentifying RiskAnalyzing RiskEvaluating RisksRisk TreatmentReduce the RiskAvoid the RiskTransfer the RiskAccept the RiskPlanning and Implementing Risk TreatmentDefinition of Inherent, Current and Residual RisksResidual RiskRisk Monitoring and ReviewObjectivesRecording and ReportingImplementation StrategiesKey Risk IndicatorsRisk Communication and ConsultationObjectivesFinding the Right People (Stakeholders) to Talk To (Communicate and Consult)Implementation StrategiesStakeholdersAssessment of ERM Adequacy and EffectivenessEnsuring Your ERM Framework Meets the MarkKey Responsibilities of the Risk and Audit CommitteeBest Practices for Assessing ERM Adequacy and EffectivenessMonetary Authority of Singapore (MAS)’s Expectation of Risk GovernanceAI for Risk Managers: Leveraging Artificial Intelligence in Risk Management PracticesThe Convergence of AI and Risk ManagementAI-Enhanced Risk IdentificationAdvanced Risk Assessment and AnalysisAI-Driven Risk Mitigation and TreatmentContinuous Monitoring and ReviewEthical Considerations and Broader ImplicationsThe Future of AI in Risk Management

Keywords: ERM; Enterprise Risk Management; Strategic; Operational; Financial; Project Risk Management; PRM; SS ISO31000; SS ISO31073; SS IEC 31010; Risk-Based; Practical; Risk Assessment; Treatment; Communication; Monitoring; Case Studies; Real Life Examples of ERM Practices; Gen AI for Risk Manager; Aviation; Chemical; Education; Power; Energy; Hospitality; Financial Services; Healthcare; Human Capital; Legal; Governance; IT; OT; Cybersecurity; Insurance; Sustainability; Utilities (search for similar items in EconPapers)
JEL-codes: G32 L21 L26 M1 M13 M16 (search for similar items in EconPapers)
Date: 2026
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789819817504_0003 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789819817504_0003 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789819817504_0003

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().