Risk management is a difficult and complex task with many perspectives. This study deals mainly with the aspect of risk management as integrated inthe regular governance system in a road transport agency. It draws on experience gathered in the Swedish agency during recent years. There have been increasing requirements for risk management and internal control laid down by the government. It presents and discusses a few practical approachesregarding governance, risk analysis and risk evaluation. Especially risk evaluation is an awkward task for decision makers. It is an issue concerning a wide circle of vested interests in the modern society. The paper alsotouches on some philosophical and fundamental aspects of risk and risk management. These aspects have formed the basis for the practical approach. There is nothing as practical as a good theory. For the covering abstract see ITRD E139491.
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