The International Electrotechnical Commission (IEC) has announced the publication of the third edition of IEC 62198:2025 Managing risk in projects – Application guidelines Ed3. Broadleaf was involved closely in its development.

From the Introduction to IEC 62198:2025

Every project involves risk. Project risks can be related to the objectives of the project itself or to the objectives of the assets, products or services the project creates. This document provides guidelines for managing risks in a project in a systematic, effective, efficient and consistent way.

Risk management includes the coordinated activities to direct and control an organization with regard to risk. ISO 31000, Risk management – Guidelines, describes:

a) the principles for effective risk management,

b) the framework that provides the foundations and organizational arrangements for designing, implementing, monitoring, reviewing and continually improving risk management throughout an organization, and

c) a process for managing risk that can be applied to all types of risk in any organization.

This document shows how those general principles and guidelines apply to managing uncertainty, threats and opportunities in projects. It applies to all kinds of projects and project management processes. When applying this document in conjunction with flexible or agile project management processes, the project’s objectives, requirements and specifications are expected to evolve as the project progresses. The application of this document can be adjusted in these circumstances.

This document is relevant to individuals and organizations concerned with any or all phases in the life cycle of projects. It can also be applied to sub-projects and to sets of inter-related projects and programmes.

The application of this document can be tailored to each specific project by taking into consideration factors such as context, objectives and requirements. Therefore, it is not in the scope of this document to impose a certification system for risk management practitioners.

The guidance provided in this document is not intended to override existing industry-specific standards, although the guidance can be helpful in such instances.

From the Foreword to IEC 62198:2025

This third edition cancels and replaces the second edition, published in 2013, and constitutes a technical revision.

This edition includes the following technical changes with respect to the previous edition:

a) now aligned with ISO 31000, Risk management – Guidelines and ISO 21502, Project, programme and portfolio management – Guidance on project management.

b) the principles and generic guidelines on managing risk in projects have been updated to take into account developments in risk management and leadership, with particular reference to implementing risk management within the broad scope of project management envisaged by ISO 21502, including project-related oversight and direction by the sponsoring organization.

Broadleaf's involvement

Dr Dale Cooper, Director of Broadleaf, was Convenor of the Management Team MT 62198 that developed the new edition. MT 62198 was established within the IEC Technical Committee TC 56, Dependability. Members from the International Organisation for Standardisation (ISO) Technical Committees TC 262, Risk management, and TC 258, Project, programme and portfolio management, also participated.

The members of MT 62198 were: Gennaro Bacile (Italy), Professor Emerita Jean Cross (Australia), Michael Graham (Great Britain), Robert Kijak (Poland), Peter Milsom (Canada), Mitsuo Shibagaki and Tadahiro Shibutani (Japan), and David Valis (Czechia).

Dale Cooper would like to thank all the members of MT 62198 for their valuable contributions to the new edition, and their thoughtful discussion, comments and support throughout the process of its development. It has been a sound team effort.

Availability of IEC 62198:2025

The new edition is available through the IEC Webstore. It may also be available through your National Standards Organization.

Alignment of IEC 62198 and Project Risk Management Guidelines

Broadleaf's book, Project Risk Management Guidelines: Managing Risk with ISO 31000 and IEC 62198, is compatible with the new edition of IEC 62198.