This chapter discusses risk management, corporate strategy, and corporate governance. It defines governance and explains the nexus between risk management and strategy. The objectives of risk management are to identify potential problems in advance and have plans to address them. Corporate strategy and governance provide direction and structure for organizations. Effective risk management requires consideration of both financial and non-financial risks at both the strategic and operational levels. Risks can be managed at the corporate, department, borough and project levels. Strategic risk management identifies risks that could impact business strategy. Culture and leadership play important roles in risk management. State-owned enterprises and unlisted companies also require tailored risk management practices. Challenges in implementing enterprise-wide risk management include issues related to culture