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Project always face several risks. Risks are a signi cant part of all project management. Projects are very By providing your phone number, you agree to receive a one-tim
risky and we need to manage that risk to stay in control of our project. The risk management system has automated text message with a link to get the app. Standard
messaging rates may apply.
mainly 4 steps. These are-
i) Identify, it is done by a group of people and they list of each and every possible risks from the very small
to a big one.
My Textbook Solutions
ii) Analyze, this is the uncertainty that can affect outcome. These are the likelihood with which risk can
happen and the effect on the project is measured by impact.
iii) Plan, it is a systematic way to do the work so the risk can be eleminated, the likelihood and impact is
reduced. Also the risk can be very small that it will not effect the outcome. So, the project should be
Add a
planned accordingly.
textbook
iv) To put the plans into action. A risk register can be maintained where all the risks and plans are Management Fundamental
documented. So that anyone can nd any detail they want from the register. It also helps to keep track on , Student... s of...
the project. 12th Edition 10th Edition
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