New second edition of BiH standard BAS ISO 31000: 2016, Risk management - Principles and guidelines, has been published. The standard was adopted by method of translation of the international standard ISO 31000: 2009, Risk management - Principles and guidelines.

This standard provides principles and generic guidelines on risk management and can be used by any public, private or community enterprise, association, group or individual. The standard can be applied throughout the life of an organization and to a wide range of activities, including strategies and decisions, operations, processes, functions, projects, products, services and assets. This standard can be applied to any type of risk, whatever its nature, whether having positive or negative consequences.

Standard provides generic guidelines, it is not intended to promote uniformity of risk management across organizations. The design and implementation of risk management plans and frameworks will need to take into account the varying needs of a specific organization, its particular objectives, context, structure, operations, processes, functions, projects, products, services, or assets and specific practices employed.

This standard is intended to be utilized to harmonize risk management  processes in existing and future standards. It provides a common approach in support of standards dealing with specific risks and/or sectors, and does not replace those standards.

This standard is not intended for the purpose of certification.

BiH standard BAS ISO 31000: 2016 was prepared by the Technical Committee BAS/TC 3, Quality management and quality assurance, and published in the Bulletin 2016-3/4 of the Institute for Standardization of Bosnia and Herzegovina.