ISO 31000 Overview: ISO 31000 provides guidelines on managing risk faced by organizations. It includes principles, a framework, and a process for managing risk.
Risk Communication: Establishing effective communication processes is a key component of risk management. It ensures that all stakeholders are aware of the risks and the measures in place to manage them.
Explanation of Choice:
Option A: Calculating a risk index is a risk assessment activity, not a management principle.
Option C: Projecting recovery ability relates to business continuity planning, a subset of risk management.
Option D: Preparing for accreditation is an outcome of implementing risk management but not a direct application of the principles and guidelines.
References:
International Organization for Standardization (ISO). (2018). ISO 31000: Risk Management - Guidelines. ISO.
Hopkin, P. (2018). Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management. Kogan Page Publishers.
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