In today's fast-evolving landscape of technology and strategic frameworks, it's vital to re-examine the role of the Risk Manager. The debate around the potential obsolescence of risk management prompts us to ask: Have we become so fascinated with advanced tools and techniques that we've lost sight of the fundamental objectives of risk management? While academic literature and professional forums consistently highlight that effective risk management is about delivering tangible value to our stakeholders—through careful identification, assessment, and management of risks1—rather than merely deploying sophisticated methods, the high failure rates of mega projects underscore a pressing concern. Recent data shows that 50% to 70% of these large-scale projects fail to meet their budget, schedule, or performance targets2. Drawing from my recent experience with Red Sea Global, one of the world’s most ambitious tourism and real estate developments spanning 28,000 square kilometres and valued at $10 billion, I have been tasked with implementing a robust project risk management framework. This role has involved ensuring that teams deliver on time, within budget, and with exceptional quality. My research reveals that the true value of risk management often lies in aligning closely with stakeholder expectations and supporting accountable risk owners, rather than over-relying on advanced techniques and forcing our complex skillset on teams. In this presentation, I will share insights on which risk management approaches proved most effective in a dynamic and innovative environment. Discover why revisiting fundamental risk management principles might be the key to enhancing performance and effectiveness in today’s complex and fast-paced projects. Join me to explore how a back-to-basics approach can offer profound benefits even in the most advanced project environments. 1. Betty J. Smith and Chris J. L. K. Britton in their book "Managing Project Risks and Opportunities 2. Data gathered from 2020, McKinsey & Company and 2022, Project