The correct answer is B. objectives . Risk only has meaning when it is connected to an objective that uncertainty can affect. Without an objective, there is no clear basis for judging whether a situation is harmful, beneficial, tolerable, unacceptable, or worth treating. Option A is wrong because risk does not exist only in relation to asset management. Asset management uses risk management, but risks also exist in finance, safety, operations, environment, compliance, supply chain, cybersecurity, and strategy. Option C is too narrow because health and safety risks are important, but they are only one category of organizational risk. In CRL Asset Management, this distinction matters because asset-related risk must be evaluated against asset-management objectives such as safe operation, required performance, lifecycle value, regulatory compliance, reliability, customer service, environmental protection, and cost control. ISO 31000 defines risk as the effect of uncertainty on objectives. That definition directly confirms that risks exist in relation to objectives, not simply in relation to assets or hazards alone.