ISO 31000 is one of the most widely used risk management frameworks in the world. Its process is conceptually sound — yet many people still find the classic diagram harder to interpret than it needs to be.
 
This guide presents a clear, practical, and updated representation of the ISO 31000 risk management process. Built around a single foundational page you can print, share, and pin on the wall, it makes the underlying logic explicit by distinguishing three things that are often blurred together:
the actions we perform (Scope & Criteria, Identify, Assess, Evaluate, Treat)
the states of risk we observe (Inherent, Current, and Residual)
the context within which everything sits
 
Once you see the process this way, the whole sequence becomes considerably easier to understand, teach, and apply.
 
What’s inside
The full 16 page SRMBOK Guide expands on the one-page process diagram designed for clarity and everyday use with full explanations
Detailed explanation of every element, including why the arrows only connect to the five action steps
The journey from inherent risk → current risk → residual risk, and how existing and proposed controls transform exposure
The Swiss-Cheese view of risk in this model
Practical guidance on fitting the effort to the task — from individual tasks to enterprise assessments
Application of the process specifically to security risk (threat, vulnerability, and criticality)
Supporting models including the Swiss cheese model of layered controls and the “myths of nature” that shape how people judge risk
 
This is a thinking tool designed to help people make better decisions in the face of uncertainty.
 
The free one-page diagram is already available on the site. This full guide is the detailed explanation that sits behind it — written for risk practitioners, security professionals, project managers, board members, and anyone who needs to explain or apply the process clearly.
 
All SRMBOK Guides and Templates (including this one) are included in the annual library subscription for unlimited access to current and future releases.