Which standard is widely recognized for risk management frameworks?

ISO 31000 is widely recognized as the standard for risk management frameworks. It provides guidelines and principles for creating a risk management framework that can be integrated into an organization’s overall governance structure. This standard emphasizes the importance of a proactive approach to identifying and managing risks to achieve objectives, ultimately enhancing decision-making and fostering a culture of risk awareness throughout the organization.

ISO 31000 is applicable to any organization, regardless of size, industry, or sector, making it versatile and universally applicable. Its focus is on ensuring that risk management is systematic, structured, and timely.

The other standards mentioned, such as ISO 9001, ISO 14001, and ISO 45001, pertain to quality management, environmental management, and occupational health and safety management systems, respectively. While they may incorporate elements of risk management, their primary focus is on specific areas rather than providing a comprehensive framework for risk management like ISO 31000 does.