Strategic risk consists of the most important risks that an organisation faces, i.e. the possible future scenarios that would make a material difference (for better or worse) to its ability to achieve its main objectives or even to survive. These risks differ in magnitude from project risks or operational risks, which are generally more limited in their impacts. Strategic risks are more strongly influenced by people’s perceptions and their behaviour. They are more dynamic, uncertain and interconnected, and therefore they often need to be managed as complex processes rather than discrete events. This requires a shift in the way we think about them and the way we manage them. This is just a snapshot from the full text which explains why strategic risk different .