Process — Iso 31000 Risk Management

Following the assessment, the process moves to Risk Treatment. This phase involves selecting and implementing options for modifying risk. ISO 31000 outlines several treatment options, including avoiding the risk (by deciding not to start or continue the activity), taking or increasing the risk (to pursue an opportunity), removing the risk source, changing the likelihood, changing the consequences, or sharing the risk (e.g., through insurance). The selection of treatment options must balance the potential benefits against the costs and efforts required. It is important to note that risk treatment rarely eliminates risk entirely; rather, it reduces the risk to a tolerable level, leaving a "residual risk" that must be monitored.

Crucially: Treatment almost always introduces residual risk (the risk left over after you act). You must document this. iso 31000 risk management process

The standard visualizes the process as a continuous loop inside a framework. Here is how it works: Following the assessment, the process moves to Risk