RiskNZ Update: AS/NZS 5050 - Managing Disruption Related Risk

We hope you are all well and safe as we move into level 3 during these extraordinary times.

This message is to bring to your attention the work that the Australia/New Zealand Joint Standards Committee OB-007 has recently done to prioritise the update of AS/NZS 5050 – Managing Disruption Related Risk. The new standard will be available as soon as possible to use as a tool for managing disruption risks. The intent is that this will be a joint Australia and New Zealand standard.

Content of the standard is now complete and the document is in the editorial phase. In order to fast-track the process, it is being made an interim standard and will therefore skip the usual public consultation period. That means it will hopefully be released within the next two months. Feedback provided on interim standards is collated and included in the next review of the document (18 months later).

Funding is normally available for developing standards. The unique current circumstances in this case means Standards NZ has reached out to a number of organisations, including RiskNZ, seeking support to raise the necessary funds to complete the joint standard. If funding is not secured by mid-May the standard will become an Australian-only standard instead of a Joint AS/NZS standard.

Recognising that many of our members will have a strong interest in this standard, the Board of RiskNZ has agreed to support Standards NZ by raising this matter. If you would like to assist Standards NZ you may contact them at [email protected].

It is not our normal position to connect our members to Standards NZ. However, the Standard 5050 for Managing Disruption Related Risk will be a valuable resource for New Zealand as our organisations are faced with the ongoing impacts of Covid-19.

Kind regards,