A Formalised Approach to the Management of Risk: A Conceptual Framework and Ontology

  title={A Formalised Approach to the Management of Risk: A Conceptual Framework and Ontology},
  author={Mike Brownsword},
Taking pragmatic, systems engineering approach, this paper identifies a number of fundamental issues that presently arise in risk management, primarily as a result of the overly complex approach conventionally taken in process definition and a lack of coherence within the current risk management vocabulary. The aim of the paper is to enable a fundamental simplification of the risk management process and an improved understanding of the associated terminology. The outcome of this work is a… CONTINUE READING

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