Risk assessment and Risk management is an important topic for organizations of all types and sizes, as they face external and internal factors and influences that make it uncertain whether they will achieve their objectives or suffer from losses of their assets. Risk assessment and risk management are, therefore, transversal activities of particular interest for governance and leadership of companies and other organizations, but also for engineering, research and development, design, manufacturing or quality control areas.

Risk assessment and management also consider the external and internal contexts of an organization, including foreseeable human behaviour and cultural factors having an influence on it or the products or services it produces or delivers.

The International Standards Organization (ISO) has developed a complete portfolio of standards on risk assessment and risk management. These standards assist organisations in their processes of value creation and value protection by assessing and managing risks, making decisions, setting and achieving objectives and improving performance.

Some important standards for risk assessment include:

• EN IEC 31010:2019 - Risk management - Risk assessment techniques which is an adoption of the standard IEC 31010:2019 ED2 - Risk management - Risk assessment techniques

Some relevant standards for organisations to manage risk include:
- ISO 31000:2018 - Risk management — Guidelines
- ISO 31022:2020 - Risk management — Guidelines for the management of legal risk
- IWA 31:2020 - Risk management — Guidelines on using ISO 31000 in management systems