Risk
A risk is an event that may or may not occur , but if it does, it will impact negatively on the project. Project managers prepare for risks with a risk assessment. First, they have to assess the likelihood of the risk, then decide what precautions to take. If the risk is very unlikely, they may take no precautions, or if it’s more likely, they may prepare a contingency plan.
For more significant risks, there may be a section of the budget allocated to compensate, or even special equipment purchased to mitigate that risk.
43
205 reads
CURATED FROM
IDEAS CURATED BY
Self Motivated, Trauma Neutralizer, Lover of Persiflage & Communication!
Wanna be a certified PMP Project Manager? Follow me for curated information pertaining to the PMP certification.
“
Similar ideas to Risk
Reputational Risk
This is defined as any sort of threaten or danger that can damage the good standing of your business and negatively impact your reputation with consumers and overall business success.
Such risks are usually unexpected and occur with little to no warning. All kinds of reputational risk can...
The Risk Template
NASA identifies any potential risk using the following variables:
- Condition: A fact-based situation that is causing concern or doubt.
- Departure: The variation or potential change that the condition will cause.
- Asset...
Managing Risk Like NASA
NASA is routinely dealing with problems that are as complex as they can get. Apart from having a process about measuring creativity, or a detailed checklist to take stock of every minute detail, they also have a Risk Matrix, a powerful tool that helps to identify and manage risk.
...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates