This invited review article by Terje Aven from the University of Stavanger, Norway, provides an overview of recent advances in risk assessment and management, focusing on foundational issues. The paper highlights the evolution of these fields over the past 30-40 years, noting that while the core principles and methods remain largely unchanged, significant advancements have been made in both theoretical platforms and practical models. The author discusses trends in perspectives and approaches, and reflects on areas where further development is needed. The review covers topics such as risk analysis and science, risk conceptualization, uncertainty in risk assessment, risk management principles and strategies, and the future of risk assessment and management. It emphasizes the importance of integrative thinking, which involves combining opposing ideas to generate new insights and solutions. The article also addresses the relationship between science, knowledge, and decision-making, and the challenges in defining and measuring risk. Additionally, it explores the concept of robustness and the precautionary principle, highlighting the need for a stronger conceptual unity in the risk field.This invited review article by Terje Aven from the University of Stavanger, Norway, provides an overview of recent advances in risk assessment and management, focusing on foundational issues. The paper highlights the evolution of these fields over the past 30-40 years, noting that while the core principles and methods remain largely unchanged, significant advancements have been made in both theoretical platforms and practical models. The author discusses trends in perspectives and approaches, and reflects on areas where further development is needed. The review covers topics such as risk analysis and science, risk conceptualization, uncertainty in risk assessment, risk management principles and strategies, and the future of risk assessment and management. It emphasizes the importance of integrative thinking, which involves combining opposing ideas to generate new insights and solutions. The article also addresses the relationship between science, knowledge, and decision-making, and the challenges in defining and measuring risk. Additionally, it explores the concept of robustness and the precautionary principle, highlighting the need for a stronger conceptual unity in the risk field.