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New ISO/IEC standard on risk assessment

Two recently published ISO standards on risk management have just been joined by a third on risk assessment techniques. Together, they provide organizations of all types with a well-stocked toolbox for tackling situations that could affect the achievement of their objectives.

ISO/IEC 31010:2009 will assist organizations in implementing the risk management principles and guidelines provided by the recently published ISO 31000:2009, itself complemented by ISO Guide 73:2009 on risk management vocabulary.

The application of a range of techniques is introduced, with specific references to other International Standards where the concept and application of techniques are described in greater detail. Risk assessment is not a stand-alone activity and should be fully integrated into the other components in the risk management process.