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Define the term risk in risk management.
Risk:
It is the probability or chance of something which may or may not arise; this is something that can be quantified by using standard deviation.
Uncertainty:
It is something that cannot be predicted along with statistical confidence, normally because of insufficient information.
What do you mean by Gates and Milestones? Gates and milestones: Milestones are a completion of main interim objectives for a project for example the key stages of a pro
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