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RISK MANAGEMENT IN THE CONTEXT OF PROGRAM MANAGEMENT

The purpose of risk management within the program domain is to secure optimal realization of program benefits. This purpose is achieved by combining the management of opportunities and threats.

One of the key characteristics of a program is complexity, and risk management addresses this aspect. Risk management practices within a program use opportunities to reduce complexity and address threats that occur as a result of complexity.

Programs consist of related projects, subsidiary programs, and program activities managed in a coordinated manner to obtain benefits not available from managing them individually. Risk management ensures that all of these components have effective processes to ...

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