We have already focused on the US Marine Corps approach to risk management, (see "Risk Management the US Marine Corps - it is a process"), but they are not alone within the military with formalizing approaches to decision-making under uncertainty. The US Army addresses the issue with their own variation on the problem in their risk management manual. Again, there is a focus on process and disciplined which should be the focus for any risk management program. Clearly, a common theme is to have a strong risk process as a response to uncertainty.
The US Army focuses on four main principles. These principles include integration and decision-making at the right level as well as continuous assessments and always weighting return to risk.
The US Army five step process breaks risk management into two major parts, assessment and management. You need to measure risks, take actions, and then evaluation in a continuous loop. Feedback and reassessment is critical to the process.