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16.05.2015: Start for the revision of ISO 31000

ISO standards come up for revision every five years, and ISO 31000, and its accompanying Guide 73 on risk management terminology, are no exception. Launching the revision process, ISO/TC 262/WG 2, the working group responsible for developing core risk management standards, gathered from 3 to 9 March 2015 in Paris – under the auspices of AFNOR, ISO member for France – to discuss the necessary changes to be made to the standard.
Quoting Kevin Knight, Chair of ISO/TC 262 on risk management:
“With the passage of time, a number of risk practitioners indicated that ISO 31000:2009 needed a limited review to ensure it remained relevant to users. As a result, ISO Guide 73:2009 will need to be revised in so far as changes are made to terms and definitions used in the revised ISO 31000, or additional terms and definitions are deemed necessary to assist users with their own documentation.
Many have seen this limited review as an opportunity to seek greater changes that reflect the needs of major corporations and governments for a high-level document. As a consequence, ISO/TC 262/WG 2 had to deal with a total of 656 comments at its March 2015 meeting in Paris. While they did complete the task, it has demonstrated a need for a new high-level document that will require a full technical review by ISO/TC 262/WG 2 to develop a design specification (DS) that outlines additional issues to be addressed based on the comments examined in Paris. The DS will, of course, have to be approved by the participating members of ISO/TC 262 in order to proceed.
There are two possibilities, regarding the next important steps of the revision:
– ISO/TC 262/WG 2 finalizes the limited review of ISO 31000:2009 into a Draft International Standard (DIS) and sends it out for ballot; then it undertakes a full technical review to develop a design specification for a New Work Item Proposal (NWIP) for a high-level standard on the management of risk; in this case, it would be expected that the revised edition of ISO 31000 to be published in mid-2016;
– ISO/TC 262/WG 2 seeks the approval of the technical committee to stop the “limited” revision and go directly – with the results achieved so far – to a full “technical” revision. This will need a design specification (DS) that outlines the issues to be addressed in addition to what has currently been achieved; in this case, we could expect to see publication of the resultant standard by the end of 2017.”
Source: http://www.iso.org/

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