Principles and Aims of Risk Management 55 Control management reduces the range of possible outcomes from any event. Control management is based on the established techniques of internal financial control, as practised by internal auditors. The main intention is to reduce losses associated with inadequate control management at the same time as reducing the range of possible outcomes. This is the contribution that internal control should make to the overall approach to risk management within an organization. Opportunity management seeks to make positive outcomes more likely and more substantial. As part of the opportunity management approach, the organization should also look at possibilities for increasing the revenue from the product or service. In not-for-profit organizations, opportunity management should facilitate the delivery of better value for money. Achieving benefits These reward enhancement options can be discussed at strategy meetings and some options may be adopted, including the introduction of bonus and incentive schemes for staff and management. Clearly, in light of the lessons learnt from the global financial crisis, these incentive schemes should be balanced and should not reward excessive risk taking. This chapter has considered the principles of risk management that describe what