What is risk management? (Specialists)

This article assumes you have read What is risk management? (Everyone).  It links into a lot of detailed material that may be of interest to risk management specialists, rather than to general readers.


Depending on how you’ve come to this point, it’s possible you are bothered by something like one of these thoughts.

  • Why yet another definition of risk management?
  • Not having a codified standard risk management process with common scales is a recipe for chaos. At the very least, it’s a failure of the risk management initiative.
  • In my organisation, ‘risk management’ is an organisation unit. Possibly I’m in it and perhaps we are overloaded with productive work. I can’t accept this version of ‘risk management’ which says that only decision makers (‘line’ managers) manage risk.
  • If any of this is true, what could be the role of a Chief Risk Officer?

As a risk management specialist, you are vitally and personally concerned with the fundamental meaning of ‘risk management’. These drill-down articles reveal the supports for the big statements I made in What is risk management? (Everyone).

Reconciling definitions of risk management

What is Risk Management? It’s NOT following a risk management process

What is Risk Management? It’s NOT what ‘risk managers’ do

Further Reading

Main article on What is risk management? (Everyone)

Recommended next articles:

What is risk management? It’s not following a risk management process (Specialists)

Risk management not defined by its methods. Risk registers, matrices, and bureaucracy are not part of ISO 31000.Registers and scales do not define Enterprise Risk Management either.

Stream supplements: Risk Specialists Executives Australian Government CRMA CRISC

Drill-down articles:

What is risk management? Definition of ‘risk’ (Specialists)

The main differences between ISO 31000 and COSO ERM definitions of ‘risk’ are about ‘positive’ risk and about ‘uncertainty’ other than events.

What is risk management? Definition of ‘risk management’ (Specialists)

ISO 31000 defines risk management for an ‘organisation’, broadly defined, while COSO ERM is only about ‘enterprise’ risk management.

What is risk management? Defining the end result of effective risk management (Specialists)

The end result of effective risk management is to be sure that the ‘organisation’ understands its risks, and that those risks are acceptable.

Some other main topics Discrete risk management processes within an enterprise

‘Enterprise Risk Management’ and risk management (coming soon)

All pages on What is Risk Management?

Articles for everyone The goal of risk management (Everyone) Key Principles for actually managing risk (Everyone) How does ‘risk management’ fit with all the other kinds of ‘management’? What separate activities are specific to ‘risk management’? What is risk management? Examples What is risk management? Thinking too narrowly What is risk management? Less common errors
Supplements for reader streams
For Risk Specialists: What is risk management? (Specialists)
For CRMA Candidates: What is risk management? (CRMA)
For CRISC Candidates: What is risk management? (CRISC)
Extras for risk specialists: What is risk management? Reconciling definitions of risk management What is risk management? Definition of ‘risk’ (Specialists) What is risk management? Definition of ‘risk management’ (Specialists) What is risk management? Defining the end result of effective risk management (Specialists) What is risk management? It’s not following a risk management process What is risk management? It’s not what ‘risk managers’ do

Risk consequences as the final effect on objectives (LinkedIn – registration required)

For Executives: What is risk management? What matters for management (Executives)
For Australian Government readers: What is risk management? (Australian Government)

Leave a Reply

Your email address will not be published. Required fields are marked *