You can prevent many of the worst issues by predicting what might go wrong in future, and taking some action now to avoid this prediction becoming true. This prediction is done by looking at project risks.

Because the future is not fully predictable, risks are present in everything that you do. You may be planning to launch a successful new product next year, but there is a risk your competitors may do something similar first. You may have some land on which you want to build a house, but there is a risk you will not get planning permission. You may want to fly to Indonesia next week, but there is a risk all the tickets have been sold already. You may be planning to paint your front room, but when you remove the existing wallpaper there ...

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