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Risk Assessment Chart Analysis.edited

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Management
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Atlantic International University Online
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Risk Assessment Chart Analysis
Student’s Name
Institutional Affiliation
Course Name and Number
Instructor’s Name
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Risk Assessment Chart Analysis
Different organizations and companies are carrying out various projects and researches.
These at times require huge investments. Before the start of any project, proper investigations,
analysis, and assessments are done to determine the possible outcome and also potential risks
and losses which may be encountered during the process, the time which will be required to
finish the project in addition to the resources which may be needed in total to execute the entire
project to its end, among many other features which are assessed. The proper assessment
provides the owner of the project plus the stakeholders involved to plan appropriately and be in a
better position to choose which project will be best for them depending on various factors (Villa
et al. 2016).
The project risk management plan addresses the process behind risk management. Risk
assessment meetings allow the project team to identify, rank, prioritize, and mitigate or avoid
these risks in advance. Risk assessment is a step in the risk management process. Risk
assessment consists of determining the quantitative or qualitative value of the risks associated
with specific situations and known threats. Risk assessment involves measuring the probability
that a chance will become a reality. But in any project, risk assessment is not the total
responsibility of the project manager. There should be a special meeting to absorb the ideas of
the entire team, or at least the following ideas:
Prediction of any risk that may be encountered also contributes to appropriate
preparedness towards the risk, and if it’s an enormous one, then the stakeholders or project
managers can choose to not proceed with the project when the expected chances are very high
and unpreventable or no proper means to reduce them. Systematic use of available information to
determine how often specified events may occur and the magnitude of their consequences can be

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1 Risk Assessment Chart Analysis Student’s Name Institutional Affiliation Course Name and Number Instructor’s Name Date 2 Risk Assessment Chart Analysis Different organizations and companies are carrying out various projects and researches. These at times require huge investments. Before the start of any project, proper investigations, analysis, and assessments are done to determine the possible outcome and also potential risks and losses which may be encountered during the process, the time which will be required to finish the project in addition to the resources which may be needed in total to execute the entire project to its end, among many other features which are assessed. The proper assessment provides the owner of the project plus the stakeholders involved to plan appropriately and be in a better position to choose which project will be best for them depending on various factors (Villa et al. 2016). The project risk management plan addresses the process behind risk management. Risk assessment meetings allow the project team to identify, rank, prioritize, and mitigate or avoid these risks in advance. Risk assessment is a step in the risk management process. Risk assessment consists of determining the quantitative or qualitative value of the risks associated with specific situations and known threats. Risk assessment involves measuring the probability that a chance will become a reality. But in any project, risk assessment is not the total responsibility of the p ...
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