Novel methods of data collection and analysis can enhance traditional risk management practices that rely on expert engineering judgment and established safety records, specifically when key conditions are met: Analysis is linked to the decisions it is intended to support, standards and competencies remain up to date, and assurance and verification activities are performed. This article elaborates on these conditions. The reason engineers are required to perform calculations is to support decision-making. Since humans are famously weak natural statisticians, rather than ask stakeholders to implicitly assimilate data, and arrive at a decision, we can instead rely on subject matter experts to explicitly define risk management decision problems. The results of engineering calculation can then also communicate which interventions (if any) are considered to be risk-optimal. It is also proposed that the next generation of engineering standards should learn from the success of open source software development in community building. Interacting with open datasets and code can promote engagement, identification (and resolution) of errors, training and ultimately competence. Finally, the profession’s tradition of independent verification should also be applied to the complex models that will increasingly contribute to the safety of the built environment. Model assurance will be required to keep pace with model development to identify suitable use cases as adequately safe. These are considered to be increasingly important components in ensuring that methods of data-centric engineering can be safely and appropriately adopted in industry.