This book provides insights on risk management and overviews of the varying risk management standards, frameworks and guidelines. It advocates the theoretical background to the concept of risk and uncertainty and their recent development. Additionally, this book critically appraises the contentious issues relating to risk and uncertainty, discusses on the various approaches available relating to risk and uncertainty in the management of projects. On top of that, it presents current understanding of the relationships between uncertainty, risk and opportunity for which it is found to be lacking in various industries. It dissected the three domains and later provided an improved understanding of these domains. This continues with the current practice of managing risks in the realm of project and presented a comprehensive process framework to manage project risks across all industries