JSC “Uzbekhydroenergo” Implements ISO 31000:2018 Risk Management Standards in Management Practice for the First Time

Tashkent, Uzbekistan (UzDaily.com) — In today’s economic and technological environment, the resilience of enterprises depends on consistent and systematic risk management.

One of the key international frameworks regulating this process is the ISO 31000:2018 standard, “Risk Management – Guidelines”, which provides a foundation for a transparent and comprehensive approach to identifying, assessing, and managing risks. The flexibility of the standard allows it to be effectively applied across various industries and levels of management.

Among industrial enterprises in the country, JSC “Uzbekhydroenergo” became one of the first to implement this standard.

For the first time, the company established a risk management system in accordance with ISO 31000:2018, integrating it into strategic planning, investment project assessment, technical safety, operational management, and monitoring processes.

This approach was implemented not as a formal exercise but as a functional system focused on practical risk management and informed decision-making.

The effectiveness of the implemented system was evaluated through an independent audit conducted by international experts.

The audit confirmed compliance of the company’s risk identification, prioritization, registry and risk mapping, management measures, and monitoring mechanisms with ISO 31000:2018 requirements. It also highlighted the active use of risk analysis results in management decision-making.

Applying the ISO 31000:2018 approach enhances strategic management, strengthens operational resilience, and ensures consistent compliance with safety requirements.

The risk management system allows for the early assessment of uncertainties, rational use of resources, and ensures transparency and predictability in managerial processes.

The practices implemented by JSC “Uzbekhydroenergo” can serve as an example for other industrial enterprises, supporting the phased development of risk management systems and the improvement of overall managerial approaches at the national level.

Overall, the adoption of ISO 31000:2018 standards at JSC “Uzbekhydroenergo” represents a significant step toward systematizing internal management processes, establishing a unified methodology for risk assessment, and increasing management efficiency. This experience provides a valuable methodological foundation that can potentially be applied by other manufacturing companies in the future.