This report recapitulates the diverse aspects of biological safety. Biological laboratory is a space that facilitates the handling and storage of microorganisms, their components or their derivatives. Laboratories that handle dangerous pathogens have to act in a responsible manner to manage the safety and security threats posed by these pathogens. This necessity was foreground in the December 2008 World at risk report, which specifically demanded bioscience laboratories that handle dangerous pathogens to implement a unified laboratory biorisk management framework to enhance their safety and security. The report also discusses the guidelines of biosafety regulations provided by World Health Organization (WHO) that are necessary to adequately and sustainably manage these biorisks and helps in better understanding of risk governance approaches for laboratories that handle dangerous pathogens to achieve the ultimate goal of minimizing or preventing the occurrence and consequences of human error within the laboratory environment: the biorisk management approach, composed of biosafety, laboratory biosecurity and ethical responsibility. It preferably provides an agreement between authorities, the public, and the scientific community establishing trust and societal safety and security, while enabling the continued progress of science. Biorisk management approach demonstrates that biorisks in all their potential forms are appropriately addressed, managed and minimized. Thus, biorisk management has become an important aspect of the development and sustainability of biological activities.