ABSTRACT
The objective of this chapter is to describe the processes, methods, and techniques used to manage risks once they have been identified and to ensure that risks are always reduced to acceptable levels throughout the life cycle of a system. By risk management, we refer to the process by which risks, and hazards, are tracked appropriately so that mitigations can be applied to reduce the risk associated with the hazards to an acceptable level. In the UK, this generally means reducing risks in accordance with the ALARP principle. This chapter examines some of the ways in which risks, and their hazards, are managed throughout the safety life cycle, so that appropriate risk analysis and assessment techniques may be applied at the correct time and that all risks and hazards are tracked through the system life cycle.
