Concepts and Guidance Fifth Edition. This new edition of Risk Management Concepts and Guidance supplies a look at risk in light of current information, yet remains grounded in the history of risk practice. Taking a holistic approach, it examines risk as a blend of environmental, programmatic, and situational concerns. Providing comprehensive coverage of risk management tools, practices, and protocols, this edition has been updated to reflect the Project Management Institutes A Guide to the Project Management Body of Knowledge PMBOK Guide, Fifth Edition.