Seven Component Risk Management Process

7 Components of Risk Management Process Seven Component Risk Management Process

ISO 31000 Risk Management Process

Learn Risk Assessment, One of the 3 easy steps of the ISO 31000 Risk Management Process.

Although the image depicts seven components, in reality, there are only 3 sequential steps in an effective decision-making process.

  • Establishing the Context
  • Risk Assessment (consisting of 3 components)
  • Risk Treatment

The other two components, 'Communication and Consultation' and 'Monitoring and Review' are continual rather than sequential processes.

In our training, everything is explained very clearly and reinforced during group workshops.