How New Risk Management Helps Leaders Master Uncertainty

CHAPTER 7

Integrating Risk Management into the Organization

Introduction

Risk management is the focus of information presented in the first six chapters of this book. Two recently-updated risk management systems are presented, ISO 31000:2018 and COSO ERM:2017. These standards can be integrated for more effective use. However, risk management could be even more effective if it were additionally integrated into how business is operated every day.

The International Organization for Standardization (ISO) created a “high-level structure” (HLS) that is used to write and integrate management system standards and enable them to work more effectively as a part of the business. With a HLS in place, an organization can use “Software-as-a-Service” (SaaS) ...