What is Project Risk Management?

Question

• *The processes of conducting risk management planning, identification, analysis, response planning, and controlling risk on a project.

• Increase the likelihood and impact of positive events, and decrease the likelihood and impact of negative events in the project.

• The Risk Management processes are: ◦ Plan Risk Management ◦ Identify Risks ◦ Perform Qualitative Risk Analysis ◦ Perform Quantitative Risk Analysis ◦ Plan Risk Responses ◦ Control Risks Please refer to PMBOK® Guide Fifth Edition, figure-1, page. This provides an overview of Project Risk Management.

International trainer ENG . Hassan Shalaby

Ayoub Tartir , PMP, GWCPgM, CISA, CISSP, CAP, CSSLP, FITSP-D, CEH, CHFI, CCNA, CCNA Security, Security+, Network+ · Answer

Thanks a lot for your invitation. Useful Information.

MOHAMED TILOULT · Answer

FR : Selon la norme ISO 31000, la gestion des risques est un processus qui vise à identifier, analyser et traiter tous les risques qui peuvent affecter une organisation.

EN : According to the ISO 31000 standard, risk management is a process that aims to identify, analyze and treat all risks that can affect an organization.

Matthew Smith · Answer

The processes in risk and safety management consist of various steps and procedures ranging from identification of the possible danger to establishing mitigation. Besides, the risk and safety management processes should follow the standard procedures as set out in the regulatory frameworks or institutions.

sohail salah · Answer

The head of a risk management department within a company is known as the chief risk officer. Depending on the size of the company, the number of employees in a risk management department can vary. Some of the positions within the department include the head of market risk management, the head of credit risk management and the head of operational risk management. These individuals supervise teams that create the company's risk management policies and procedures for their individual type of risk management.

Sureshkumar Kuppusamy · Answer

forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.

harish kumar · Answer

Risk management is the identification, evaluation, and prioritization of risks

Ahmed Othman · Answer

Project risk management is the process of identifying, analyzing and then responding to any risk that arises over the life cycle of a project to help the project remain on track and meet its goal. Managing risk isn’t reactive only, it should be part of the planning process to figure out risk that might happen in the project and how to control that risk if it in fact occurs.

Ahmed said Basha · Answer

In the world of finance, risk management refers to the practice of identifying potential risks in advance, analyzing them and taking precautionary steps to reduce/curb the risk.

Antonio da Costa Da Costa · Answer

For example, a fixed deposit is considered a less risky investment. On the other hand, investment in equity is considered a risky venture.

Ubaidur Rahman · Answer

In finance, risk management is considred, "The process of analysing and identifying the ways to mitigate the risks in an investment decision".

Ketan Joshi · Answer

Between Projected and Actual

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