  Risk is a fundamental consideration when designing electronic systems. For
most systems a view of risk can assist in setting design objectives, whereas
both a qualitative and quantitative understanding of risk is mandatory when
considering protection systems. This paper gives an overview of the risks due
to stored magnetic and beam energies in high-energy physics, and shows how a
risk-based approach can be used to design new systems mitigating these risks,
using a lifecycle inspired by IEC 61508. Designing new systems in high-energy
physics can be challenging as new and novel techniques are difficult to
quantify and predict. This paper shows how the same lifecycle approach can be
used in reverse to analyse existing systems, following their operation and
first experiences.
