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Risk management and resilience

The recent arrival of two leading international risk experts in Belgrade, on the occasion of the holding of the International Conference on the Security of Critical Infrastructure Systems, was an opportunity for their closer acquaintance with the Serbian Institute for Standardization.

On Friday, October 13, the Institute welcomed two esteemed experts in risk management and resilience: Mr. Russell Price, a specialist in enhancing risk planning and resilience strategies, and Prof. Dr. Aleksandar Jovanović, a renowned authority on risk management and resilience in industrial settings. Engaging in insightful discussions with Institute representatives, the experts explored the latest advancements in these critical fields and emphasized the importance of fostering regional collaboration. A significant highlight of the meeting was the upcoming publication of ISO/TS 31050 (https://www.iso.org/standard/54224.html), a groundbreaking technical specification for risk management, slated for release later this month. Notably, the Institute played a pivotal role in spearheading the international working group responsible for developing this document.

Mr. Russell Price, a distinguished figure in the realm of risk management, has held the esteemed position of Chairman of the International Committee on Risk Management, ISO/TC 262, since the start of this year. Prior to this, he also chaired the British committee of the same name, further demonstrating his leadership and expertise in this field. Mr. Price's contributions extend to his active membership in several technical committees, including Continuity and Resilience, Social Security Management, Climate Change, ESG Coordination, Security and Resilience, and Information Security. Complementing Mr. Price's accomplishments, Mr. Aleksandar Jovanović has played a pivotal role in shaping the landscape of risk management through his involvement in the adoption of several European and international standards. These include CWA 15740 ("RBI"), EN 16991 ("RBI"), CWA 16449, and ISO/TS 31050, Risk management – Guidelines for managing an emerging risk to enhance resilience.

The discussion also delved into the critical role of risk management in European organizations, emphasizing the urgent need to bridge the gap between national standardization bodies, government entities, and industry representatives across the region. This collaboration is essential to foster a unified approach to risk mitigation and resilience, ensuring that organizations are well-equipped to navigate the complexities of the modern business landscape.