Risk Governance Framework: Overview

This lecture introduces a framework for risk governance, emphasizing the shift from a traditional risk definition to linking risks with organizational objectives. It covers risk assessment, identification, analysis, evaluation, and treatment, as well as the concepts of acceptable, unacceptable, and tolerable risks. The lecture also discusses risk management actions, communication, evaluation, and normative concepts for assessing risks. It highlights the importance of transparency, stakeholder involvement, effectiveness, and ethical acceptability in risk governance within a democratic, liberal, and innovative society.