Understanding and managing risk attitude

Risk management is recognised as an essential contributor to business and project success, since it focuses on addressing uncertainties in a proactive manner in order to minimise threats, maximise opportunities and optimise the achievement of objectives. Although there is wide convergence and international consensus on the necessary elements for a risk management process – supported by a growing range of capable tools and techniques, an accepted body of knowledge, an academic and research base and wide experience of practical implementation across many industries – risk management still fails to meet expectations in practice. Like so much else within the project and programme disciplines, risk management is dependent on people. Thinking and attitudes in particular need to change.