Risk management develops as the need arises. Usually after an accident people want “authorities” to do something. On the other hand, industry wants predictable behaviour of authorities to be able to judge the soundness of their investments. This led to an adaptive process involving many decision makers embedded in legal and cultural heritage. It was indeed as struggle to determine who should be responsible and how to have risk management done by competent party (i.e. (1) industry, (2) public (3) authorities).
The basic structure of Risk Management is generally understood. The particulars of the various steps and control cycles involved such as identification, quantification, decision, reduction; the terminology and the emphasis depends on where the problem and the description originated.