Why do you need the PD ISO/TR 56004:2019 (Innovation Management Assessment. Guidance)?

4 years ago

The ISO 56004 (PD) is the fifth revision of the PD standard, which was first published in 2003. ISO stands for International Organisation for Standardisation, which is recognised as being the global leader for drafting technical standards. The ISO 56004:2019 PD standard is essentially a guide to the major aspects of developing and implementing a successful programme for risk management.

Learn more about or buy the PD ISO/TR 56004:2019 Innovation Management Assessment. Guidance.

The reason for developing a PD ISO/TR 56004:2019 is to ensure the standard is kept up-to-date and relevant, and that all stakeholders in the risk management process are catered for. The PD standard is a set of guidelines which applies to both internal and external professional services, including accountants, solvency examiners, insurance professionals, accountants, auditors, lawyers, operations managers, staff safety consultants, clinical risk managers, staff safety and risk managers

How is the ISO 56004:2019 PD different from the previous revision?

The latest revision of the PD ISO/TR 56004:2019, differs from the previous one in a number of ways. These include the following;

Largely, the PD ISO/TR 56004:2019 now clarifies the risk management process, rather than focusing on the underlying methodology. In effect, this makes it clearer to those using the system, how the process works, and what they should do.

The PD ISO/TR 56004:2019 allows for the addition of location-specific, or generic risk information. Location-specific information is information relevant to a particular country or area, such as health and safety regulations, accident statistics, and risk insurance cover. The coverage of location-specific information leads to a more meaningful PD system.

While, the PD ISO/TR 56004:2019 allows for geographical and generic risk information, it is focused more on generic risk information. This is done to avoid confusion arising from the use of conflicting geo-specific information elsewhere in the world. While, the geo-specific information is needed nationally or locally, it is not the main focus of risk management.

Another reason for allowing risk information to be added, is to give organisations more freedom to tailor their PD ISO/TR 56004:2019 proposals to their specific requirements. For example, the PD ISO/TR 56004:2019 can be adapted for a company’s financial institution, rather than one’s own personal objectives.

The above may be enough to explain why we need the ISO 56004:2019. However, this standard also applies to our industry as a whole. Given that we’re in the same industry as the ISO, our customers will demand this standard from our services. This is important, particularly in the current climate, as the authorities are increasingly cracking down on corporate behaviour, particularly in financial institutions.

It is important that the PD standard is up-to-date, relevant, reliable, and applicable. By ensuring that we adopt the PD standard, we are fulfilling our responsibility to our clients, and also setting a good example for the rest of the industry.

Learn more about or buy the PD ISO/TR 56004:2019 Innovation Management Assessment. Guidance.

What does the PD Standard ISO/TR 56004:2019 cover?

The PD standards are useful, particularly since they relate to topics that are often overlooked, such as workplace sexual harassment, the corruption of government officials, and the mobility of labour. The other topics the ISO 56004:2019 covers including; fire, violence, automobile and other vehicle accidents, occupational disease, and workplace risk assessment and management.

While the PD standards do not cater for all risk management issues, they contain some sample frameworks and processes drawn from relevant standards, and are fully consistent with the risk management programmes that are currently in place.

In addition to the above, the ISO 56004:2019 PD standard also gives guidance on the following issues;

Getting the Right People

This section is directed towards getting the right people involved in risk management. The PD ISO/TR 56004:2019 offers advice on how to find the right people in a risk management team. For example, it highlights the importance of a qualified risk management team, in ensuring the risk management process is successful.

Workplace Violence

The PD ISO/TR 56004:2019 deals with the issue of violence in the workplace. Issues such as workplace aggression, intimidation as a form of violence, workplace bullying, and the link that exists between aggression and stress, are examined in detail.

Fire Protection in Construction

This section of the PD standard deals with fire risks. What is important to note, here, is the requirement for fire risk management in construction. This comes in the form of fire safety and prevention, fire and life safety, and fire and life safety education.

Health, Safety, and Welfare in Construction

This section of the standard deals with the issue of occupational health and safety in construction. Topics, covered in this section, include safety and health of workers, hazard identification, workplace risk assessment, occupational training, and documentation of health and safety.

Developing a Fire Safety and Prevention Programme

One important aspect of the risk management process is fire prevention and fire safety. The PD ISO/TR 56004:2019 provides guidance on developing fire safety and prevention programmes. For example, it looks at developing fire safety plans, and the design of building locations.

A study of the PD ISO 56004:2019 standards therefore, helps us get a greater knowledge of the risk management process. This can help, not only in the context of our work, but in an academic context too. We all might want to study the PD ISO 56004:2019 to better understand the world around us. This can be a great way to improve your understanding.

Learn more about or buy the PD ISO/TR 56004:2019 Innovation Management Assessment. Guidance.

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