Course Catalog

Project Risk Management

Description

Risk refers to future conditions or circumstances that exist outside of the control of the project team that will have an adverse impact on the project if they occur. In other words, whereas an issue is a current problem that must be dealt with, a risk is a potential future problem that has not yet occurred. A reactive Project Manager tries to resolve issues when they occur. A proactive Project Manager tries to resolve potential problems before they occur. Many problems can be seen ahead of time. Risk management is a proactive process that is invoked to attempt to eliminate these potential problems before they occur, and therefore increase the likelihood of success on the project.