Risk Management

Experience has shown that risk management must be of critical concern to project managers, as unmanaged or unmitigated risks are one of the primary causes of project failure. What we know, we plan for and are more often successful than not. However, without mitigation, risks will introduce chaos and failure into an otherwise well-planned and managed project. This paper addresses the underlying process of successful risk management: the identification, mitigation strategy and contingency planning, and ongoing management of project risks. It is designed to provide additional techniques for practicing project managers and to provide risk management awareness for their client sponsors.