The third report in this series of five examining the complementary effect risk management has on asset management, this report focuses on how managing risk occupies an equally important role as performance management in providing stable operations. The report examines the different factors that impede risk management ranging from funding pressures, adaptive capabilities, and uncertain performance measures. Finally, it addresses how impoementation of Risk Management begins outlining the cycle of set objectives, identify risks, assess risks, treat risks, control risks, and communicate.