What is ISO 22112:2019 ?

ISO 22112:2019 - The Key Components of a Risk Management System

ISO 22112:2019 is a comprehensive risk management standard that outlines a systematic approach to identifying, assessing, and mitigating risks. This standard is designed to help organizations develop efficient and effective risk management systems that are aligned with their overall business strategy.

The key components of ISO 22112:2019 include:

Risk Identification: The first step in a risk management system is to identify potential risks that could negatively impact an organization's operations or business goals. This involves identifying the various factors that contribute to the risk, such as process failures, human errors, or external factors.

Risk Assessment: Once potential risks have been identified, the next step is to assess their impact on the organization. This involves evaluating the likelihood and potential severity of each risk, as well as the potential impact on the organization's operations and goals.

Risk Management: With a clear understanding of the risks facing an organization, the next step is to implement preventive measures to mitigate those risks. This involves developing a risk management plan that outlines the steps that will be taken to address each risk, including any necessary changes to processes or procedures.

Risk Monitoring and Reporting: Finally, it is important to regularly monitor and report on the risks that continue to exist. This involves implementing a risk monitoring and reporting system that helps organizations stay on top of their risks and make informed decisions about how to manage them.

In conclusion, ISO 22112:2019 provides a framework for organizations to identify, assess, and mitigate risks in a systematic and effective manner. By implementing the key components of this standard, organizations can create a more resilient and prepared organization that is better equipped to handle unexpected events that could negatively impact their operations or business goals.