Samenvatting

Risks taken by some organizations may have considerable impact on society. In this contribution the assessment and management of risk are perceived to take place in a multi-actor setting. Within an organization operators, risk managers, and top managers interact about risk assessments and risk mitigation strategies. Public regulators and inspectorates increasingly focus on risk management systems instead of the operational activities or organizational outputs. Are organizations systematically assessing their risks? This contribution identifies two contrasting perspectives on risk assessment and risk mitigation in literature: risk management and risk governance. An empirical study in three sectors reveals evidence of both perspectives in practice. Companies adopt hybrid approaches, which are essential for the quality of risk assessment and mitigation. Indeed, adopting just one perspective seems dangerous. We conclude that public regulators and inspectorates might provide incentives to focus on just one perspective and suggest two heuristics for public inspectorates that respect hybrid approaches of risk assessment and mitigation.