scope:

This International Standard is applicable to any project with a technological content. It may also apply to other projects.

It provides a general introduction to project risk management, its subprocesses and influencing factors. These subprocesses are:

− establishing the context, including confirmation of project objectives;

− risk identification;

− risk assessment, including risk analysis and evaluation;

− risk treatment;

− review and monitoring;

− communication (including consultation);

− learning from the project.

Guidelines are provided on the organizational requirements for implementing the process of risk management appropriate to the various phases of a project.

It is recognized that, in certain circumstances, it may be inappropriate to include all the clauses of this standard within a contract. Accordingly, this standard should only be considered as forming part of a contract - however that contract may be formed - if the parties to that contract explicitly call upon and refer to this standard (or parts thereof) and require it to be included within the contract.