Risk management is about dealing with uncertainties.
As a business concept, risk management means considering how any potential future conditions could alter a course toward achieving a business objective. Global standards organizations and associations are adjusting their guidance and advice to emphasize risk management is not just about addressing specific risk events. The updated COSO and ISO risk management standards now highlight the need to consider risks in association with business objectives and decisions.
It's time to transition from a risk-centric to a decision-centric perspective of risk management processes and resources. The age of digital enterprises is here.