Increasingly, society and standards require that risk-informed safety decisions be made. Benefits can be gained by leveraging reliability and risk concepts decisions as a complement to conventional analyses. There is a range of tools that can be implemented within a "risk-informed" framework, from qualitative experienced-based estimates to full probabilistic multi-parameter modelling of the hazards and consequences. This paper aims to show that implementation of a risk approach can help support dam owners with added insight into safety. Four key aspects are for efficient risk-informed decision-making: (1) carry out a risk assessment; (2) identify the most significant factors influencing the safety; (3) prepare a risk picture of the dam with risk diagrams; and (4) make risk-informed decisions on the need for measures to reduce risk. The 26th Nabor Carrillo Lecture concentrates on risk assessment and risk management for dams, and on reducing landslide risk. The paper describes basic concepts of a reliability-based approach and illustrates their use with examples from practice. The benefit of using a risk-informed approach is discussed. A risk assessment and management framework for risk-informed decisions is proposed. The paper concludes with learnings from risk assessments and suggests that the approach should be implemented more widely than before in practice.