4

Risk management

Introduction

All projects are about changing something and all change incurs risk.

Risks are about the project not going to plan. They are about resources and people not being available when you want them, about machines not working, about the outputs not being of the quality you were expecting. This can happen because of an unchecked assumption, or a lack of realism in the planning, or poor organization or because you are trying to do something which is new and/or complex. If you are dependent on resources or factors outside your control the project is risky.1

On the other hand, some amount of risk-taking is inevitable if the project is to achieve its objectives. Risk can be viewed as the reverse of opportunity: if there ...

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