This document specifies requirements, recommendations, and examples for implementing a Risk-Informed Decision-Making (RIDM) process for managing existing network assets in power systems. The intended audience concerns power network organizations' stakeholders and decision-makers, such as asset managers, risk managers, regulators, asset owners, and service providers. The RIDM process details the steps to ensure transparency, consistency, and traceability of the decision by: specifying the risk decision-making context depending on asset management objectives, available knowledge, and risk stakeholders' concerns; identifying the appropriate risk management strategies and the knowledge supporting the analyses; detailing the essential steps for conducting a risk analysis and justifying investments, regardless of the calculation methods used; providing essential information and warnings to decision-makers; implementing performance evaluation and continuous improvement. The document is based on the asset management principles from ISO 55000:2024 and is aligned with ISO 55001:2024 [1]. Compliance with the requirements of this document is independent of compliance with ISO 55001:2024 [1].