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Adaptive Management

Definition
A philosophy that accepts that management must proceed even without complete information. It views management not only as a way to achieve objectives, but also as a process for probing to learn more about the resource or system being managed. Learning is an inherent objective of adaptive management. Adaptive management is a process where policies and activities can adapt to future conditions to improve management success.
Source
Appendix B Glossary. "Climate, Community & Biodiversity Standards". (Second Edition - December 2008). http://www.cbd.int/convention/convention.shtml
Alternative definition

Management practices that promote a system's ability to take advantage of opportunities or cope with problems occurring in the environment. Considering the high level of variability within and between ecosystems, and the reliance of organic agriculture on local ecological balance, adaptive management is a central strategy.

Alternative source

Natural Resources Management and Environment Department, NR, FAO, 2009.