ISO 22301 Risk Assessment: A Practical Guide to Business Continuity Resilience
If you're working toward ISO 22301 certification or simply want to build a more resilient organization, risk assessment is one of the most critical elements of your Business Continuity Management System (BCMS). It’s where you identify the threats that could disrupt your operations—and put controls in place to prevent, reduce, or respond to them. In this guide, we break down how to approach ISO 22301 risk assessment in a way that’s practical, effective, and certification-ready.
What Is Risk Assessment in ISO 22301?
ISO 22301:2019, the international standard for Business Continuity Management Systems, requires organizations to systematically identify, assess, and treat risks that could impact continuity of operations. This includes:
Identifying potential disruptive events (natural, technical, human-made)
Evaluating the likelihood and impact of each event
Prioritizing risks for treatment or acceptance
Unlike other ISO standards, ISO 22301 places strong emphasis on organizational resilience and recovery—not just prevention.
How to Conduct a Risk Assessment for ISO 22301
1. Define the Context
Understand internal and external issues that affect business continuity
Identify stakeholders and their requirements for continuity
Clarify the scope of the BCMS (e.g., sites, services, departments)
2. Establish Risk Criteria
Define how you'll assess impact (e.g., financial, legal, reputational, operational)
Set scoring scales for likelihood and impact
Establish a risk tolerance threshold for decision-making
3. Identify Risks and Threats
Conduct workshops, interviews, or surveys with department leaders
Use tools like SWOT, PESTLE, or threat libraries
Focus on threats that could interrupt key activities (identified via your Business Impact Analysis)
4. Analyze and Evaluate Risks
Score each risk based on likelihood and impact
Use a heat map or risk matrix to visualize priority areas
Evaluate interdependencies between processes, systems, and third parties
5. Determine Risk Treatment Actions
Decide whether to mitigate, transfer, accept, or avoid each risk
Implement controls (technical, procedural, or organizational)
Document responsibilities, timelines, and monitoring mechanisms
6. Integrate with the BCMS
Link risk treatment plans with business continuity plans (BCPs)
Update risk registers regularly, especially after exercises or real incidents
Ensure top risks are reviewed in management review meetings
Common Pitfalls to Avoid
Treating risk assessment as a one-time activity
Failing to include third-party risks (suppliers, IT providers)
Overengineering the scoring model—keep it usable
Missing the connection between risk and recovery planning
Tools and Templates
Risk register spreadsheet or database
Risk matrix template
BIA and threat catalogue to support identification
Action plan tracker for treatment follow-up
Why It Matters
An effective risk assessment is foundational to business continuity. It helps you:
Build preparedness
Reduce vulnerability
Prioritize recovery resources
Satisfy auditors and stakeholders
Whether you’re preparing for ISO 22301 certification or simply aiming to operate more reliably, risk assessment is where your BCMS starts becoming real.
Written by Wintersmith Advisory – empowering resilient organizations through ISO-aligned systems and practical implementation support.