Risk is related to the magnitude and uncertainty of an output (consequence or outcome); outputs take on different identities in different disciplines and situations. Risk is peculiar to each stakeholder and the measurement scale for risk depends on the stakeholderâ¤s value system. Risk management provides a way of addressing the issues associated with the magnitude and uncertainty of outputs. This book provides a distinctively rational treatment of risk and risk management, based on a systems approach. The bookâ¤s treatment applies to all disciplines and sets out the principles of risk and risk management as well as looking at a range of applications and more specialist tools and approaches. The book: Develops a risk framework through a systems approach Offers a challenging and fresh approach for infrastructure engineering, construction and project management in general The book will suit students and practitioners alike.