The correct answer is C. Barriers and opportunities . Risk is not only negative. Modern risk management treats risk as the effect of uncertainty on objectives, which can include threats, barriers, and opportunities. In asset management, risks may include barriers such as failure, safety incidents, environmental release, regulatory breach, poor maintainability, cost escalation, or service disruption. But uncertainty can also create opportunities: improved lifecycle value, better technology, optimized maintenance intervals, increased resilience, energy savings, or improved asset performance. Option A is incomplete because opportunities alone ignore harmful uncertainty. Option B is also incomplete because barriers alone ignore upside potential and value creation. Asset management decision making must use risk to prioritize both what must be protected and what can be improved. This is why risk-based decisions are stronger than purely cost-based or age-based decisions. ISO 31000 defines risk as the effect of uncertainty on objectives, supporting the broader treatment of both negative and positive uncertainty.