BSI report outlines how standards “support risk management and add business value”

BSI, the business standards company, has produced a report examining how standards support risk managers. Written in conjunction with Airmic – the UK association for risk and insurance professionals – the report describes what standards are and how they’re developed. In particular, it highlights how standards can support risk management procedures within organisations.

Howard Kerr, CEO of the BSI, said: “We know from research that standards make a significant and positive contribution to the success of UK companies. For example, they lead to increased productivity by facilitating innovation, enhancing the quality of products and boosting the efficiency of processes. In addition, they help to promote international trade.”

The recent publication of the revised international standard for risk management, ISO 31000:2018 Risk Management: Guidelines “encouraged Airmic to step back and reflect on how standards can help organisations to excel and how they can support risk managers,” stated Julia Graham, deputy CEO and technical director at Airmic.

Howard Kerr: CEO at the BSI

Howard Kerr: CEO at the BSI

The report, entitled ‘Standards: Supporting Risk Management and Adding Business Value’, will be launched at Airmic’s Annual Conference running in Liverpool this month. At the heart of the report is a wide-ranging conversation between two risk management practitioners who describe their experiences of using standards to support risk management within business. The conclusion is that standards help give organisations “systems and frameworks” and can contribute towards good enterprise risk management and the success of the host business.

Other contributions from the United Kingdom Accreditation Service and the Independent International Organisation for Certification underline how accredited certification, inspection, testing or measurement services based on standards can support brokers and underwriters in their management and assessment of risk, as well as afford consumers the necessary assurances that a product or service delivered meets a certain level of quality and satisfies any legal requirement(s).

About the Author
Brian Sims BA (Hons) Hon FSyI, Editor, Risk UK (Pro-Activ Publications) Beginning his career in professional journalism at The Builder Group in March 1992, Brian was appointed Editor of Security Management Today in November 2000 having spent eight years in engineering journalism across two titles: Building Services Journal and Light & Lighting. In 2005, Brian received the BSIA Chairman’s Award for Promoting The Security Industry and, a year later, the Skills for Security Special Award for an Outstanding Contribution to the Security Business Sector. In 2008, Brian was The Security Institute’s nomination for the Association of Security Consultants’ highly prestigious Imbert Prize and, in 2013, was a nominated finalist for the Institute's George van Schalkwyk Award. An Honorary Fellow of The Security Institute, Brian serves as a Judge for the BSIA’s Security Personnel of the Year Awards and the Securitas Good Customer Award. Between 2008 and 2014, Brian pioneered the use of digital media across the security sector, including webinars and Audio Shows. Brian’s actively involved in 50-plus security groups on LinkedIn and hosts the popular Risk UK Twitter site. Brian is a frequent speaker on the conference circuit. He has organised and chaired conference programmes for both IFSEC International and ASIS International and has been published in the national media. Brian was appointed Editor of Risk UK at Pro-Activ Publications in July 2014 and as Editor of The Paper (Pro-Activ Publications' dedicated business newspaper for security professionals) in September 2015. Brian was appointed Editor of Risk Xtra at Pro-Activ Publications in May 2018.

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