Boards are responsible for the good governance of the organisation and risk management is an essential aspect of this.
Diligently balancing competing priorities with limited resources requires an organisational expression of risks and rewards in the value system of the board. In the business community this has often been expressed as risk appetite meaning that an outstanding outcome can justify taking greater chances to achieve success. In policy terms it means encouraging the organisation to select projects and programs with greater rewards for similar effort, and is to be applauded. This is a positive demonstration of business due diligence.
However, safety has a different perspective. Here often, the consequences of failure are so high that there is simply no appetite for it. Instead, provided the situation is not prohibitively dangerous, the requirement is for (safety) risk to be eliminated or reduced so far as is reasonably practicable, a matter which can be forensically tested in court1.