* Risk Management Framework: ISO 31000:2018 emphasizes a comprehensive approach to risk management, encompassing both threats (negative risks) and opportunities (positive risks).
* Risk Matrix for Opportunities: While the department has established a risk matrix for threats, ISO 31000:2018 requires a balanced view that includes identifying and assessing opportunities.
* Opportunities in Risk Management: Recognizing and managing opportunities can enhance the organization's ability to achieve its objectives and create value, complementing the mitigation of threats.
* Sufficiency of Current Approach: Focusing solely on threats does not fully align with ISO 31000:2018, as it neglects the proactive identification and management of potential positive outcomes.
* Reference: The ISO 31000:2018 standard itself outlines the need to consider both threats and opportunities in the risk management process, as detailed in its guidelines on risk assessment and treatment.