What are the conditions of risk occurrence in project?

Within a project environment there is all the time a risk or chance which adverse conditions arise, which could reason of the project to fail, or may fail to meet its planned intentions for example time, quality and cost. A project manager or a project board must consider the various tasks, activities and work to achieve project deliverables, and see any risk that a definite outcome could differ to an expected result. The financial and non-financial effects of every risk must be well documented, all risks perhaps classified in groups for better understanding of its implications. Some models as like PEST or SLEPT analysis and the other derivatives are assistance to analyse different types of risk for example social, legal, technological, political and economic risk. Risk management methods can also help to classify those risks which are controllable and uncontrollable, once particular risk has been known and the scale or impact of each evidently understood, suitable risk management strategies can be implemented in order to control all risks. It will be an on-going activity during the different stages of project.

Posted Date: 8/31/2013 6:47:46 AM | Location : United States

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