It is important to understand the definitions, but practical Risk Management always boils down to human factors - the willingness of people to notify risks, the ability to classify them correctly, of the Risk Manager to allocate tasks and for those charged with mitigation to carry them out.
Ask ANY Risk Manager in DE&S, or what was PE, AMSO, AML, DLO or DPA, if he/she was given the correct resources and, equally important, the support of his line management AND all other stakeholders; most will laugh. The last time I called a RM Committee on a major programme, nobody turned up, having been told not to. Upon recommending to a senior officer that we should perhaps recognise major safety risks and mitigate them, his answer was “You’re beginning to grate” and, as I mentioned in my last post, continued to permit over-rules by unqualified staff.
The Nimrod 2 Star agreed with him.