Integrated Risk Management as a core of an Integrated Management System

The continual increase of the competition on the market leads to the need of organisations to achieve and maintain compliance to standards such ISO 9001, ISO 14001, OHSAS 18001, ISO 27001, ISO 22000 a.s.o. Having an effective and efficient management system is now more important than ever. That means improving information flow and the level of knowledge in the organisation, with the same or even less administration effort. An organization can get a highest return on investment if will take advantage from the similarities between the standards, by integrating them into a single one system. There are very common processes involved so it is more reasonable to direct the effort towards developing one Integrated Management System, in order to facilitate the documentation and operation control and save money and time. More over, the Integrated Management System it is the firs step to sustainable development of the organization, the future of business performance. On the over hand, risk management became more and more ―fashionable‖ in a global market, affected, in last two years by financial crisis. Risk Management, in general, is a process aiming at an efficient balance between realizing opportunities for gains while minimizing vulnerabilities and losses. It is an integral part of management practice and is the common goal of all management systems. ISO 9001 helps management to develop good products with minimal quality RISKS, ISO 14001 includes environmental RISK and OHSAS is dealing with OH&S RISKS a.s.o. In all these cases, the nature of risks is different but the way to manage the risks is similar. The paper will examine the fields of risk management in relation with integrated management system and will try to answer to the following questions: how integrated management risk and integrated management system interferes each other, how risk management improves the integrated management system and vice-versa. Another important question that the paper will address is how we can develop a model of an integrated management system based on the risk management taking in account the specific components of a risk management process.