A ‘Risk’ is any event that, should it occur, would negatively affect the project’s objectives.
A risk is an event that may or may not happen. However, since a project already faces a significant degree of uncertainty due to its singular and unique nature, we have a professional and managerial duty to do all we can to lower the chances of negative impacts on the project and to minimize the damage that will result from materialized risks. It is therefore imperative to systematically identify and evaluate all the potential risks in a given project and develop ways to mitigate each one.
In this course, we’ll learn the process of risk management – performed in 6 stages.
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Practical Project Risk Management