Everything has been redefined in terms of risk. Why? Because our world is filled with uncertainty. Uncertainty is no more thin, uncertainty is getting radical, fat and profound.
Now, project management, business management, cybersecurity, financial and investment management, economics, human resource management, production management, engineering, environmental management, supply chain management etc are all risk management.
Risk management is how matured professionals or experts manage for success in the face of complex uncertainty. The world is now brittle, ambiguous, nonlinear and incomprehensible; posing serious and messy challenges for decision makers to make quality decisions, shape behaviour and take effective actions to drive better and sustainable business economics that survive first and thrive in the unknowns.
The arithmetic for fat uncertainty isn't the same for thin uncertainty. The whole idea is to be able to function or perform without knowing tomorrow i.e improving performance, outcomes, decisions, strategies, policies etc in the unknowns.
This requires new maths, new arts, new mindset, new reasoning, new culture and new tools. This is the time for every decision maker, operations and boards become top performers via upksilling and retooling in order to uncover asymmetries, discover risk and create a new civilization where humans can generate wisdom faster to survive and thrive in unknowns.