Which of the following aspects is NOT typically included in risk management?

Choosing work-life balance initiatives as the aspect that is not typically included in risk management is insightful because risk management primarily focuses on identifying, assessing, and mitigating risks that could adversely affect an organization. This includes areas like incident management, which deals with how to handle unexpected events or crises; performance management and incentives, which often involve recognizing and addressing risks related to employee productivity and motivation structures; and reputation risk management, which safeguards an organization's reputation against scenarios that could cause public relations issues or damage stakeholder trust.

Work-life balance initiatives, while crucial for employee well-being and organizational culture, do not directly align with the core functions of risk management. Instead, they focus more on enhancing employee satisfaction and productivity rather than assessing or mitigating risks. Thus, within the traditional scope of risk management practices, work-life balance does not fit as it does not inherently relate to identifying or managing risks that could impact the organization’s operational or strategic objectives.