This unit takes a strategic approach to risk in the project and business lifecycles. A broader range of risk management frameworks are now available and clients and providers need to understand the features of each before any implementation. The knowledge and skills developed in this unit contribute to the effective identification, analysis, evaluation and treatment of risk to the project and the organisation in an integrated and strategic way. This unit builds on a sound understanding of risk and opportunities in projects and programs to inform decision-making and the project and program risk allocation between stakeholders.