IEC 62198:2025

Overview

IEC 62198:2025 - Managing risk in projects - Application guidelines is the third edition (technical revision) from IEC TC 56. It provides principles and generic guidelines for project risk management, describing a systematic approach based on ISO 31000 and aligned with ISO 21502. The standard updates leadership and risk-management principles to reflect modern project environments and sponsor oversight. This edition cancels and replaces IEC 62198:2013.

Key topics and requirements

IEC 62198:2025 covers the full project risk lifecycle and the organizational framework needed to apply it. Key technical topics include:

• Principles for managing risk in projects - foundational risk management concepts adapted to project contexts.
• Project risk management framework - leadership and commitment, policy, accountability, resources, integration into project management, and internal/external communication.
• Project risk management process - planning, communication & consultation, establishing scope and context, risk identification, risk analysis, risk evaluation, and risk treatment.
• Monitoring, review and continual improvement - performance review, management meetings, and updating the framework and process.
• Recording and reporting - documentation, record retention and the project risk register as a central tool.
• Practical guidance and examples - Annex A contains sector examples (e.g., energy, infrastructure, defence) and worksheets for scales, matrices and treatment plans.

Requirements are presented as application guidelines to help design and implement a project-specific risk management plan and to integrate risk activities across project phases.

Applications

IEC 62198:2025 is designed for practical use in project risk management across industries:

• Establishing a project risk management framework in alignment with corporate governance and sponsor oversight.
• Designing and executing risk assessments (identification, analysis, evaluation) and producing risk treatment plans.
• Creating and maintaining a project risk register, communication and reporting mechanisms.
• Integrating risk management into project lifecycle phases and decision points as recommended by ISO 21502.
• Supporting continual improvement and leadership-driven risk culture within projects.

Typical use cases: major construction, energy projects, technology development, systems upgrades, and public-sector programmes.

Who should use it

• Project managers and programme/portfolio managers
• Project risk managers and risk officers
• Project sponsors and steering committees
• Risk consultants, auditors and compliance teams
• Organisations aligning project controls with ISO 31000 and ISO 21502

Related standards

• ISO 31000 - Risk management - Guidelines
• ISO 21502 - Project, programme and portfolio management - Guidance on project management

Keywords: IEC 62198:2025, managing risk in projects, project risk management, risk management framework, ISO 31000, ISO 21502, project risk register.