Description
PJM480 - CT 6 Module 6: Risk Management
Option #2: Project Risk Management Review
DIRECTIONS----
Using scholarly resources, write a review of risk management.
Define the risk management process. Be sure to cover each phase, inputs, tools and techniques, and outputs.
Be sure to include:
- Phases
- Types of analysis
- Categorization and prioritizations
- Mitigation strategies
Lastly, conclude with a description of the value of risk management to an organization.
Your paper should meet the following requirements:
- Be at least 3 pages in length, NOT INCLUDING THE TITLE AND REFERENCE PAGES!
- Be formatted according to ALL APA REQUIREMENTS
- Include THREE scholarly sources.
Explanation & Answer
Here you go. In case of any further inputs, please let me know.All the best!I appreciate working with you!
Running Head: RISK MANAGEMENT PROCESS
Risk Management Process
Name
Course
Tutor
Date
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RISK MANAGEMENT PROCESS
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Risk Management Process
Risk can be said to be a possibility of destruction or a loss in exposure to a chance of
damage. The risk is identified as the primary cause of uncertainty in most of the organizations.
This is the main reason why most of the Companies focus a lot on the identification, analysis, and
mitigation of risks. When a Company can manage and control potential hazards, the Company gets
the courage to focus more on the way it can make future decisions without any fear of a lost
(Cooper, 2005). In this paper, project risk management will be discussed and elaborate fully, the
analysis types, phases of risk management, categorization and prioritization of risk management,
tools and techniques used, outputs and mitigation strategies.
Risks can emerge from both internal and external sources. The external risks are the types
of risks that are out of control by the management directly; this means that these sources of threats
are out of control. The organization experiences some difficulties when analyzing and mitigating
such risks. Some ...
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