An Overview of Widely Used Risk Management Standards & Guidelines

A new executive report from RIMS

NEW YORK (March 15, 2011) – Today, RIMS announced the release of its latest executive report, An Overview of Widely Used Risk Management Standards & Guidelines. The report, a joint production of the RIMS Standards & Practices and RIMS Enterprise Risk Management Committees, is designed to provide the reader with a view of six widely used risk management standards, guidelines and self-described “best practices” to help identify common elements in each and to simplify the arduous process of wading through competing standards, frameworks and guidelines related to risk management.

In issuing this report, RIMS encourages all risk professional, regardless of functional area, to use this comparison. Based on the RIMS Risk Maturity Model success attributes, the report is designed to help organizations determine which standards and guidelines most closely align with their respective needs.

“There is an overwhelming amount of information available about the various standards, regulations and guidelines within our discipline,” says Mary Roth, executive director, RIMS. “With this report, we organized that information into a useful and understandable format.”

The wealth of available standards and guidelines describing risk management demonstrates its essential role within organizations. Even with noted differences in organizational focus, risk management has meaningful applications to all sectors, whether organizations are structured for profit, not for profit, governmental or non-governmental purposes.

The report highlights that the decision to use any particular standard or guideline is unique to each organization. RIMS remains committed to providing practical risk management tools, practices and resources regardless of which standard, guideline or regulation an organization may choose to use.

The Risk Perspective is available via RIMStore at no charge.

About the Risk and Insurance Management Society, Inc.

As the world’s preeminent organization dedicated to advancing the practice of risk management, the Risk and Insurance Management Society, Inc. (RIMS) is a not-for-profit organization serving more than 3,500 industrial, service, nonprofit, charitable and government entities globally. Founded in 1950, RIMS focuses its efforts on bringing networking, professional development and education opportunities to its membership of nearly 10,000 risk management professionals. RIMS publishes Risk Management magazine, delivered monthly to 17,000 readers, and hosts an annual conference that boasts more than 400 exhibitors and attracts more than 10,000 attendees. For more information on RIMS, visits