Risk management is littered with jargon, some of it contradictory, lots of it confusing. No wonder the shutters often come down and eyes glaze over when “risk” is mentioned…

But understanding risk isn’t about grappling with gobbledegook.

So to keep life simple we follow the clear definitions listed in “ISO31000 Risk management principles and guidelines”. It’s in keeping with our core principle of simplicity, and allows us to be consistent in our risk management work and reporting. It just makes life easier for everyone.