The systematic application of management policies, procedures and practices to the tasks of: establishing the context of, identifying, analysing, evaluating and treating risks; monitoring the implementation of treatments; and communicating about risk.
ICAO (2009) doc. 9883, Manual on Global Performance of the Air Navigation System
Risk management plays a role in performance management when dealing with rare events or when there is uncertainty associated with influencing factors — while recognizing that the occurrence of such events can have a severe impact on meeting the performance expectations. Risk management applies in all KPAs, but as a technique it is mainly used in the safety and security areas.