Managing Risks

Identifying and tracking risks is one of the functions of project management. The role of the project office is not only to ensure that risks are properly managed, but to provide a set of tools, such as checklists and procedures, to help project managers control risks. Sample tools are presented below.

Sources of Risk

All projects carry risks and all risks ultimately get resolved. Some disappear, some become issues to be handled, and some destroy projects—and careers—along with them. One of the most important aspects of managing projects is managing risks, which means ensuring that they fall into one of the first two categories. Observe that risks are not problems, they are potential problems. Risks may never materialize, but if ...

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