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5 2How does developing and applying project management skills help

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5.2
How does developing and applying project management
skills help reduce the risk for projects? Justify your
response.
Share some examples of risk responses in your company.
Solution
A project manager mitigates risks by classifying them
based on the priority or level of the threat to the projects
success. Once classified as high, medium, or low, the
concerned project manager will be able to devote time
based on the classification and eliminate the risks in a
sequential or in a random manner.
Risk mitigation handling options include:
Each of these options requires developing a plan that is
implemented and monitored for effectiveness. More
information on handling options is discussed under best
practices and lessons learned below.
From a systems engineering perspective, common
methods of risk reduction or mitigation with identified
program risks include the following, listed in order of
increasing seriousness of the risk :

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5.2 How does developing and applying project management skills help reduce the risk for projects? Justify your response. Share some examples of risk responses in your company. Solution A project manager mitigates risks by classifying them based on the priority or level of the threat to the project’s success. Once classified as high, medium, or low, the concerned project manager will be able to devote time based on the classification and eliminate the risks in a sequential or in a random manner. Risk mitigation handling options include: Each of these options requires developing a plan that ...
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