Risk management is not a new concept but has been growing momentum as of late. Project managers are expected to know the risks inherent in their projects and give them the appropriate level of scrutiny. Definition Project risk is defined by the Project Management Institute as an uncertain event or condition that, if it occurs,... [Read More]| ProjectEngineer
Experts highlight risk management as one of the most overlooked yet vital aspects of project management. While we often assume we’ve got the main threats handled, a little upfront planning can yield outsized rewards, transforming potential chaos into controlled progress. But effective risk management isn’t just about dodging disaster; it’s about turning potential pitfalls into opportunities... [Read More]| ProjectEngineer
Risk is defined as: An uncertain event or condition that if it occurs, has a positive or negative effect on a Project's Objectives (PMBOK). The effect of uncertainty on objectives (ISO 31000). The possibility that something bad or unpleasant will happen (Miriam-Webster) Risk planning is the process of identifying, prioritizing, and managing risk. Every project... [Read More]| ProjectEngineer