Managing risk in projects - Application guidelines

IEC 62198:2025 provides principles and generic guidelines on managing risk in projects. In particular it describes a systematic approach to managing risk in projects based on ISO 31000. Guidance is provided 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. This third edition cancels and replaces the second edition, published in 2013, and constitutes a technical revision.

This edition includes the following technical changes with respect to the previous edition:

a) now aligned with ISO 31000, Risk management - Guidelines and ISO 21502, Project, programme and portfolio management - Guidance on project management.

b) the principles and generic guidelines on managing risk in projects have been updated to take into account developments in risk management and leadership, with particular reference to implementing risk management within the broad scope of project management envisaged by ISO 21502, including project-related oversight and direction by the sponsoring organization.