Project management PMBOK risk management wikibook
Risk Management's goal is to increase the impact and probability of positive risks and decrease them for negative risks. The point is not only avoiding failure, but to bring about opportunities. Time and energy can be spent avoiding, transferring to a third party, and mitigating potential failures. They can be similarly be spent on accepting, sharing with third parties and enhancing opportunities. It is task of Risk Management to determine how much time and energy should be on avoiding failures and promoting opportunities.