Risk and Risk Management
- February 22nd, 2010
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Risk management is identifying, evaluating, and prioritizing the risks to coordinate and implement economic resources to minimize, monitor and control the likelihood and / or the impact of the unfortunate events.
Project Risk Management
Risk is something that could happen and if it be positive or negative impact on the project. There are several points here. “It may happen” implies a probability of less than 100%. If probability of 100% – in other words, it will happen – it is a problem. Question is different than managing risk and we will handle the management issue in a later White Paper. It must also risk the chance just over 0%. It is a chance to happen or is not in danger. Read more