Plain English Meaning
Spotting what could go wrong on a flight, judging how serious each problem could be, and taking steps to make those problems less likely or less harmful before they happen.
Full Definition
The systematic process of identifying hazards, assessing the level of risk they present, and applying controls to reduce that risk to an acceptable level before and during a flight. In FAA training, risk management is a required element of pilot decision-making and is evaluated alongside knowledge and skill in the Airman Certification Standards.
Context Anchor
Seen in the Airman Certification Standards, practical test discussions, preflight planning, weather decisions, and in-flight decision-making.