- is there a difference?

Yes, there is an important difference.

Managing risk is a broad concept that encompasses all activities dedicated to ensure an optimal risk level. Some of these may be risk management activities, other may not.

Managing risks for an organisation thus range from ensuring resilient work processes, designing robust structures, building competent employees to verifying adherences to rules and procedures.

Risk management are activities dedicated specifically to identification, assessment and management of risks.

In DNV all we do is related to the concept of managing risk:

• Classification, verification, certification: defining and ensuring that rules and standards are met in order to manage risks
• Risk management: explicit risk work to support managerial decisions and actions

The new class rules and classification of novel concepts are to a large extent based on risk assessment methods, thus bringing class rule development and risk management closely together.

Furthermore, the recent development with risk-based certification is another example of how traditional certification approach can be combined and enhanced using risk management methods.