Risk Management Principles and Guidelines

TLDR

This article examines ISO 31000‑2009 (ANSI/ASSE Z690.2), the second of a trio of standards on risk, focusing on risk management principles and guidelines. The review focuses on the second standard of the trio concerning risk. The authors reviewed risk management terminology across the standards. ISO Guide 73 and ANSI/ASSE Z690.1‑2011 were identical, containing all risk vocabulary used in the subsequent two standards. References include Luko 2013 and related risk management terminology literature.

Abstract

ABSTRACT This article examines ISO 31000-2009, also referred to as ANSI/ASSE Z690.2, the second of a trio of standards dealing with the concept of Risk. In our first review (Luko 2013 Luko , S. N. ( 2013 ). Risk management terminology . Quality Engineering , 25 ( 3 ): 292 – 297 .[Taylor & Francis Online], [Web of Science ®] , [Google Scholar]) risk management terminology was reviewed. The terminology documents, ISO Guide 73 and ANSI/ASSE Z690.1-2011, were found to be identical and contained all of the risk vocabulary used in the subsequent two standards. In the present review, the second of the trio of standards concerning risk is treated. The general topic of this standard is risk management principles and guidelines.