ISO 31000: 2018 is an ISO standard that deals with risk management. The standard defines guidelines that describe the handling of risks in an organization. The specific application of these guidelines can be customized for each company in its specific environment. The standard provides a very general approach that is not industry or sector specific and at the same time applicable to any type of risk. In addition, the standard can be used throughout the life cycle of a company and can be implemented at all company levels and in the decision-making process.