Managing Risks

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Business Finance

Description

You are ready to move forward with your project, but you realize you have not done a good job in identifying risks for your project. Using information that you learned from both online lectures, describe a key risk (either one that is technical, external, or organizational) that could impact your project. Then, recommend a risk response for it

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Explanation & Answer

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Running Head: RISKS THAT CAN IMPACT A PROJECT

Risk that can Impact a Project
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RISKS THAT CAN IMPACT A PROJECT

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Risks that can impact a project
According to Pandian, (2006), a risk is a combined likelihood of suffering loss while
pursuing a goal because of unpredictable of factors beyond control.
When carrying out projects, risks can be almost any uncertain event associated with an
individual’s work. In industry, the risk is a product of two factors, that is expected
consequences of events and secondly, the probability that the event might occur. In a company,
the risk is characterized in aggregate as micro, or macro. Both micro and macro characterization
are vital for managing risks; however, there is much difference in the applicability of how these
two characterizations differ (Kendrick, 2015).
Risks are associated with the failure to achieve the fundamental objectives for which
the projects were start...


Anonymous
Awesome! Perfect study aid.

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