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.