The correct answer isC. Guidelines for managing an emerging risk faced by an organization. ISO/TS 31050 is a technical specification that complements ISO 31000 by providingguidance on identifying, assessing, and managing emerging risks, which are risks that are evolving, uncertain, and not yet fully understood.
Emerging risks are characterized by high uncertainty, limited historical data, and potentially significant impacts. ISO/TS 31050 supports organizations in strengthening resilience by enhancing foresight, early detection, and adaptive decision-making. This aligns closely with ISO 31000’s emphasis on adynamic, iterative, and forward-lookingapproach to risk management.
Option A is incorrect because guidelines on the selection and application of risk assessment techniques are provided byISO/IEC 31010, not ISO/TS 31050. Option B is also incorrect, as basic vocabulary related to risk management is covered byISO Guide 73, which defines key risk management terms used across ISO standards.
Option D is incorrect because ISO/TS 31050 does not prescribe requirements for establishing a risk management framework. ISO 31000 itself provides guidance on principles, framework, and process, while ISO/TS 31050 focuses specifically on the challenge of emerging risks within that broader framework.
From a PECB Lead Risk Manager standpoint, ISO/TS 31050 is particularly relevant in environments characterized by rapid change, technological disruption, regulatory evolution, and geopolitical uncertainty. It reinforces the ISO 31000 principle that risk management should anticipate, detect, acknowledge, and respond to change in a timely manner.
