The Swedish Geotechnical Society has adopted a general methodology for risk management in geotechnical engineering projects to reduce the costs related to negative outcomes of geotechnical risks. This technical note highlights the main features of the methodology and strives to inspire the international geotechnical community to apply sensible risk management methods. In the authors' opinion, a successful geotechnical risk management needs to be structured, be tailored to the project, and permeate the engineers' everyday work. Then, sufficient quality can be achieved in the project with larger probability.