The beginning of the end for risk management?

The continued validity of risk management on its lifecycle curve can be determined by its comparison with quality management. Quality management offers an ideal comparison because of its similarities with risk. Both risk management and quality management has undisputed success in technical areas such as statistical quality control or project risk assessment. Though quality management has lost its name, risk management continues to embark an important position in its lifecycle curve. Its dominance in the corporate sector is also apparent, as risk acts as a filter through which all board and senior management decisions pass. The similarity between quality and risk management also indicates the problems leading to dissatisfaction for risk management.