Risk management is a management technique that addresses all potential threats to the success of a project. Threats that are considered significant will have action plans prepared which aim to reduce the prospect of the threat or event occurring and plans to mitigate its impact should it materialise.

Risk management answers the following questions:

  • What threats are perceived to the success of the project?

  • What will you do to reduce the chances that those threats will come about?

  • What will you do if those threats are realised?

  • What will other parties do if those threats come about?

Risk management is a subset of normal project management activities. Almost anything the project team does to plan and control itself can be viewed as risk management. 




Copying restricted

No right click