Understanding Risk Management
Risk management is a critical aspect of project management that involves identifying, assessing, and mitigating risks that could impact project success.
Steps in Risk Management
- Identify Risks: Recognize potential risks that may arise during the project.
- Analyze Risks: Evaluate the likelihood and impact of each risk.
- Mitigate Risks: Develop strategies to minimize the impact of identified risks.
Effective risk management can save time and resources, ensuring smoother project execution.
