In every safety critical field—from aviation to nuclear energy—managing risk is paramount. But one domain stands out in both its complexity and its challenge: healthcare. Despite decades of investment, training, and research, adverse outcomes in medicine remain alarmingly common. Why is this? What makes healthcare risk difficult to manage compared to risk in other safety-critical industries?

The word "risk" is everywhere – but how should risk be defined? Many definitions of risk focus on probability, with the implication that risk is an absolute value. Yet, as Professor Terje Aven from the University of Stavanger, Norway, argues, risk is highly subjective. In this article, we will explore Dr Aven’s definition of risk and the role of stakeholder values in determining risk.

An overview of emerging trends in risk management that organizations should monitor.

Guidelines for implementing effective risk management frameworks in organizations.