The use of risk as a business tool is rather novel. In the past, risk has been used as either a financial instrument or in connection with safety. With the advent of project risk management, a far wider-reaching aspect of the use of risk became apparent. Strategy and operations can both be improved by the appropriate use of risk. In this context, risk is not a precise science, but its use enables appropriate controls to be identified for the enhancement of the business. An analysis of risks associated with operations and infrastructure, taking into account strategic objectives, leads to better control of the business. When rapid decisions are required, the understanding of risks and their controls ensures the most favorable outcome.