Risk Management is important for Project success ?
Why Risk Management is important for Project success? If you don't invest in risk management, it doesn't matter what business you're in, it's a risky business. -Gary Cohn Let’s understand Risk and different types of Risks... Risks are future problems; focus is on Future consequences. Risk - An uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives. Positive Risks - Are the opportunities that may have positive impacts on the project’s objectives. e.g., let us say that there is a possibility that if you complete your project a few days before the scheduled date, you will get another project. Negative Risks - Are threats that may have negative impacts on the project’s objectives. e.g., let us say that in your project there is a possibility that some equipment may break due to workload; this is an example of a negative risk, and if this happens, it will damage your project. Pure Risks - A risk that can ha
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