Statistics are no substitute for judgment.
—HENRY CLAY, U.S. SENATOR
Risk assessment provides a prioritized risk register. When you use this list, it becomes clear just how much trouble your project is in. An accumulation of significant scope risks may indicate that your project is literally impossible. Too many schedule or resource risks may indicate that your project is unlikely to complete within its constraints. Project risk management can be a potent tool for transforming a seemingly doomed project into a merely challenging one.
Managing risk begins with your prioritized risk register. Based on your sorted list, you can set the boundary between the most significant and least significant risks. Risk response ...