ABSTRACT
The last 20 years or so have seen a tremendous increase in the awareness of ‘risk’ and use of ‘risk management’ in organisations. We see this in the recent initiative to introduce risk management into UK government departments. We see it in new requirements for corporate governance, especially the Turnbull guidance. We see it in structured approaches to risk sharing and the allocation of responsibility in new forms of contract, including PFIs. And we see it in changing ways of regulating safety, which require risks to be demonstrably reduced to levels as low as reasonably practicable.
