ISO 31000 Risk Management Definition

ISO 31000Risk management refers to a coordinated set of activities and methods that is used to direct an organization and to control the many risks that can affect its ability to achieve objectives.

According to the Introduction to ISO 31000 2009, the term risk management also refers to the architecture that is used to manage risk. This architecture includes risk management principles, a risk management framework, and a risk management process.

via ISO 31000 Risk Management Definitions in Plain English.