2 Managing Risk
Managing risk comprises the identification and mitigation of risks that might affect an organization or activity such as its people, financial sustainability, property and assets, reputation and information. Risk management is not an excuse for curtailing freedom, for not being prepared to take a chance, or a reason for not being innovative or risktaking. In fact the greatest risk is to do nothing and therefore risk nothing. Innovation, progress and opportunities to create the next advantage all involve some elements of risk.