The risk assessment process is not universally standardized across all organizations. While there are common principles and guidelines, such as those outlined in ISO 31000, the specific application of risk assessment processes can vary depending on the organization’s context, culture, nature of operations, and specific risks faced. It is essential for each organization to tailor its risk assessment process to align with its unique requirements and objectives.

References: = Information on the adaptability and customization of risk management processes can be found in ISO 31000:20181, which provides a framework for effective risk management tailored to the needs of the organization. Additionally, literature on risk assessment emphasizes the importance of considering organizational context and specific industry requirements234.