Risk management is the systematic process of identifying, analysing, evaluating and treating risks that could affect an organisation's ability to achieve its objectives. It encompasses both threats and opportunities and applies across all levels of the organisation—from strategic decision-making to day-to-day operations. Frameworks such as ISO 31000 and ISO 27005 provide structured approaches to implementing risk management.
Effective risk management is not a one-off exercise but an ongoing cycle that adapts to evolving threats, business changes and regulatory developments. Organisations that embed risk management into their culture and decision-making processes are better positioned to protect their assets, maintain stakeholder confidence and respond swiftly to incidents when they occur.