This is an excellent article discussing problems and challenges from the Deepwater Horizon disaster. In addition to specific risk management lapses the paper also discusses organizational culture and how it affects risk management.

Risk Philosophy
My personal risk philosophy is, keep it simple, be sensitive to your surroundings so you can quickly adapt to the changing environment, stay focused on the most important objectives and most importantly follow a disciplined approach and don't get distracted by all the noise in the environment.