Risk
Risk
is a major factor to be considered during the management of a project. Project
management must control and contain risks if a project is to stand a chance of
being successful.
Risk
is defined as:
'The chance of exposure to the adverse consequences of future
events' |
There
are a number of 'standard' risks that may affect the project (i.e. they affect
all projects). Some examples of these appear under the next heading Types of
Risk. There will be other risks that are project-specific, i.e. they exist
because of a particular project and its circumstances.