ISO guide 73:2009: risk management - Vocabulary

This guide provides the definitions of generic terms related to risk management. It aims to encourage a mutual and consistent understanding of, and a coherent approach to, the description of activities relating to the management of risk, and the use of uniform risk management terminology in processes and frameworks dealing with the management of risk.

This guide provides basic vocabulary to develop common understanding on risk management concepts and terms among organizations and functions, and across different applications and types. It is generic and is compiled to encompass the general field of risk management. The terms are relating to: risk; risk management; the risk management process; communication and consultation; the context; risk assessment; risk identification; risk analysis; risk evaluation; risk treatment; and monitoring and measurement.

This guide is intended to be used by: those engaged in managing risks, those who are involved in activities of ISO and IEC, and developers of national or sector-specific standards, guides, procedures and codes of practice relating to the management of risk.