ISO 31000 on risk management is now being revised and a new edition is scheduled for early 2018. In order to ensure that the principles and guidelines in the standard remain relevant to users, ISO 31000 and ISO Guide 73, which lays down the operative terminology, were revised in 2015 and the 2018 revision is the next step in making risk management easier and clearer and keeping it simple. The text has been reduced to its fundamental concepts to create a shorter, clearer and more concise document that is easier to read while remaining widely applicable. Knowledge of ISO 31000 will go a long way to managing risks which are a requirement of most management systems standards and in particular ISO 9001.