This chapter introduces a process of understanding of wisdom, which conceptualizes wisdom not as a fixed trait or static repository of knowledge but as a dynamic, evolving capacity enacted through practice. Drawing on process ontology, we identify three core attributes of wisdom as a process: temporality, reflectivity, and contextuality. We argue that wisdom does not necessarily grow with age or experience; rather, it requires active cultivation through lived experience, iterative learning, and engagement with socio-cultural and institutional environments. For this reason, wisdom can also decline when neglected or disengaged from relevant context and expertise. To demonstrate the practical utility of this model, we propose four interconnected principles: Multi-Perspective Consideration (MPC), Cognitive-Emotional Mastery (CEM), Self-Other Awareness (SOA), and Internal–External Reflection (IER). The principles support wise responses to grand challenges such as climate change, technological disruption, and systemic inequality. The chapter concludes with a discussion of the implications for future research and measurement, emphasizing the need for dynamic, practice-based approaches that reflect the evolving nature of wisdom in real-world settings.