Europe has started to implement Safety Management at the regional level in order to become more pro-active in the identification of hazards and with the ultimate goal of further reducing the already good safety record in the region. This activity complements the existing system of developing safety regulations, monitoring compliance with them and investigating accidents and serious incidents when they occur. The Safety Management processes at European level are described in the European Aviation Safety Programme (EASP). One of the key elements of Safety Management is managing safety risks, which means identifying hazards, assessing the risks and making decision on the best course of action to mitigate them. Industry organisations and States are also required to do this within the scope of the activities they have to manage. The regional approach complements national approaches offering a more efficient means of discharging States obligations for Safety Management in the EU’s aviation system.