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History has shown that the chances of risk events occurring and their respective costs increasing can change over the project life cycle.
As a project manager, select at least three risk events as they apply to a hypothetical project, and explain how you would address the risks you selected. Next, determine at least one strategy to mitigate each risk occurrence.
Differentiate between budget reserves and management reserves. Cite examples to explain your points.
What is Risk Management
From the e-Activity, select one project that you are undertaking or you have completed. Determine at least two additional analyses from the video that would help in facilitating the understanding of the risk management as it relates to your selected project.
The textbook emphasizes that "risk can never be completely eliminated. It can only be managed". From the e-Activity, discuss how the video explains this statement. Next, analyze why the risk management process is essential to a project's success. Include an example to support your response.