ABSTRACT
The three main activities in a risk management programme are therefore identification, assessment and control of risk. The primary objective of risk management is to anticipate, plan for and prevent a loss rather than to wait for a loss to occur, and then to react and cure. Identification of risk may lead to the conclusion that existing equipment including aircraft should be replaced with more modern equipment, and maintenance and training should be improved. In such circumstances risk management may require both substantial funds, and management decisions at the highest level. Management must have regular reports to enable it to make the correct decisions on risk management. Cost of risk includes legal liability, loss or damage to property including aircraft, equipment and buildings, and consequential and economic loss as well as the cost of risk management. There are few accidents which are attributable to one cause. Risk management in all aspects of civil aviation is essential.
