Risk management is recognised as an essential tool to tackle the inevitable uncertainty associated with business
at all levels. Its use is however often restricted to the technical or operational field, addressing threats to
processes, performance or people. Recent developments in risk management seek to broaden its scope to include
strategic risks to the business, and to address upside opportunities alongside threats. Such a holistic approach
positions risk management as an essential bridge between strategic and tactical levels. This paper explores the
critical success factors for expanding risk management to deliver strategic advantage while retaining its use as a
tactical tool.