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Risk Management Tools of Project Risk Management
Explanation & Answer
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Risk Management Tools
Introduction
Project risk management deals with processes and activities that are associated with the
identification, analyzing, developing responses to risks and monitoring any risk triggers. Every
risk manager must take risk management as their primary role. Risk, on the other hand, is
uncertain events that occur and have an effect in at least one of the objectives of the project
which are cost, scope, milestones and the budget. The risks can be either positive or negative, but
risk management primarily focuses on adverse risks. There are four steps that risk managers use
to i...
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