This document enables to answer specific needs in the field of Aeronautics although it does not present any sectorial characteristic and may therefore apply to the needs of other areas. However, the specificity of some areas can lead to the use of existing sectorial standards such as EN ISO 17666 Space systems – Risk management (ISO 17666:2003). This document: — proposes the main steps for setting up Risk Management framework within programme Management. This guideline may serve as a basis for writing a Risk Management specification; — describes a process for controlling programme risks within the defined boundaries that are considered as tolerable. This standard process can be used as a methodological guide for writing the programme Risk Management Plan; — recognises the need for knowledge management related to Risk Management, in order to capitalize and to share lessons learnt with other programmes, as well as the maturity assessment of the Risk Management; — identifies useful documents for Risk Management; — proposes an example of a typical checklist of risks related to a programme; in addition: — addresses opportunities. An opportunity is an uncertain event with positive consequences on the programme.