Recognizing sources of risk, vulnerabilities, and potential trigger events.

While they are closely related, there's a key difference between the two standards:

As of late 2024 and into 2025, BSI has signaled that national standards like BS 31100 may be in favor of direct adoption of ISO 31000. The UK’s push for alignment with international frameworks (post-Brexit, the UK still relies heavily on ISO standards) means that BS 31100 may be withdrawn in the coming years.

For risk management to be effective, BS 31100 dictates that it must meet specific criteria:

Originally published in 2008 and significantly updated in 2011, BS 31100 was designed to provide practical, actionable guidance for UK and international organizations. While the international standard outlines the overarching principles and generic guidelines for managing risk, BS 31100 acts as a tactical "how-to" guide. It bridges the gap between high-level international concepts and day-to-day operational execution. Key Objectives of the Standard

Establishing the architecture (plans, resources) and protocols (strategic policies) to make risk management stick. Practical Examples: