TS EN IEC 62198

TS EN IEC 62198 gives principles and generic guidelines for managing risk in projects. It places project risk management within a systematic approach based on ISO 31000 and links it to the broader practice of project management. In technical terms, it treats risk as the effect of uncertainty on project objectives, rather than as a narrow list of threats to be avoided.

How the framework supports project work

The standard provides guidance on the principles for managing risk in projects, the framework and organizational requirements for implementing risk management, and the process for conducting effective risk management. As general technical context, this means identifying, assessing, prioritizing and treating risks in a structured way so decisions are made consistently across the project lifecycle. This is especially valuable where scope, schedule, cost, quality, resources and stakeholder expectations may all be affected by uncertainty.

Alignment with ISO 31000 and ISO 21502

This third edition is a technical revision aligned with ISO 31000 and ISO 21502. It updates the principles and generic guidance for project risk management to reflect developments in risk management and leadership, including risk management within the wider scope of project management envisaged by ISO 21502 and the sponsoring organization's oversight and direction. The result is a more integrated view of risk, governance and project leadership.

• Provides principles and generic guidelines for managing risk in projects.
• Uses a systematic approach based on ISO 31000.
• Includes guidance on the framework and organizational requirements for risk management implementation.
• Addresses the process for conducting effective risk management.
• Cancels and replaces the second edition published in 2013.