Today, whenever we consult, teach or discuss risk management with anyone who will listen to us, we talk about risk events being upside or downside, positive or negative, beneficial or detrimental, good or bad, or opportunities or threats. While most people ‘get it’ we find that actually identifying upside risks is often very difficult. Whether this is because ‘we’ are anchored to a ‘risk is bad’ frame, there are few(er) upside risks or we don’t know how to identify them is another, far bigger topic. However, what we do find is that discussing and making good things happen out of bad situations is something that comes easier and often feels more relevant. Turning adversity into opportunity would appear to us to be something that we can do quite naturally. Rather than becoming depressed or morbid because something bad has happened, given the right stimulus or frame of mind, we can often make things better; either by choice or identifying and influencing resultant upside risks.