The purpose of Risk Management is to provide an analysis of a risk taken or involuntarily encountered, to measure the benefit or loss that the company will get as a result, to keep the negative effects under control and to minimize the damage. Risk management is the management of potential risks without taking risks and hazards, systematically, by minimizing the impact of possible damages with the data obtained. Risks must be determined first within the enterprise. Risks are too diverse to be classified. There may be market risk, credit risk, legal risk, reputation risk, environmental risk, operational risk, occupational accident risk, occupational disease risk, and many other risks, all of which can cause a variety of losses. When determining these risks, performing risk studies on a category basis prevents the risk areas to be forgotten. For example, the entity should identify risks from product inputs, production processes, financial market conditions, changes in laws and regulations, and tax issues.

It takes several steps for a company to establish the ISO 31000 Enterprise Risk Management System in its business. It is a matter of specialization that these stages are completed properly and it would be appropriate to get a consultancy service to establish this system.
The basis of the studies to be conducted is to conduct risk analyzes and reveal the effects of risks to the firm. However, first of all, before these studies are started, the senior management should believe in the works to be carried out and show their support at every stage of the studies. As a result, this system is also a quality system, and without the top management and the participation of all employees, the work does not provide the expected benefit.

First, the risk management plan should be developed. The risk management plan shows the approach to managing risk, components of risk, and resources. ISO 31000 standards require the creation of a risk management plan for the studies to be carried out once risks are identified and their impacts identified. In this plan, it will include a series of activities such as determining risk management processes, preparing implementation instructions, clarifying duties and responsibilities, and updating the job descriptions of employees in parallel.

After the system is established with the works to be carried out within the framework of this plan, it is very important to apply this system and to continue the necessary corrective and preventive works. On the one hand, it is always necessary to make improvements to the system in order to see whether the assumptions adopted during the installation of the system are still valid, and to determine whether there are new risks to the emerging conditions.

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