The OMV Gas GmbH is willing to get an ONR 49000 certification for its actual implemented risk management system. The goal of this thesis is to generate the status quo of the risk management in place and compare that with its general, as well as its specific requirements. Furthermore suggestions for change of the risk management are presented, to prepare the OMV Gas GmbH for a positive certification. According to the EU’s third energy package the OMV Gas GmbH is forced to enable an independent risk management system. The at this point implemented form of the enterprise wide risk management (EWRM) of the OMV AG is a very solid basis. This thesis leads in with an overview of the fundamentals of risk management in general. It explains the term risk and the concept of risk management in great detail. The reader gets a very good understanding of the goals and benefits of risk management and how it is successfully applied. Furthermore this work outlines the differences between the international standard, ISO 31000, and the Austrian standard, ONR 49000, as well as their legal foundation, for instance the KonTraG and the Austrian laws concerning risk management. By means of an outside-in approach, a very detailed picture of the risk management at the OMV Gas GmbH is given. Using a GAP analysis this is compared to the requirements of the ONR 49000. A list of suggestions is given to close the gap between the status quo and the desired standardised risk management system. To assist the implementation of the recommendations given in this thesis, a change management process, designed for the needs of the OMV Gas GmbH is described, as well as a checklist to control the progress of change towards the requirements of the ONR.