ISO 31000 Risk Management Definitions in Plain English

See on Scoop.itTate – Law, Liability, Risk Management, Governance, D&O and Business

Complete ISO 31000 2009 risk management dictionary. All ISO 31000 risk management definitions translated into plain English.

David Tate‘s insight:

As I don’t like the COSO risk appetite / risk tolerance approach, I thought that I would see how ISO 31000 approaches these issues.  Better, perhaps, but not much.  These approaches might be fine when addressing the possibility that a product or a part in a product might fail in a limited or acceptable number of instances or products resulting in non-serious or non-catastrophic injuries or damages. The evaluation is different, however, when the consequences can be or are serious or catastrophic.  Suggesting to the public or a jury that even a slight chance of serious or catastrophic injuries or damages is problematic, of course.  

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