This webinar explores the importance of risk management in project execution. Learn to identify, assess & prioritize risks,& devise strategies for successful project outcomes.
Overview
Risk is an inherent part of project management, involving the possibility of unforeseen events derailing planned objectives
What is Risk in Project Management?
Internal risks stem from the project's internal environment, such as resource shortages, stakeholder miscommunication, inadequate training, or process inefficiencies.
Types of Project Risk: Internal Risks
External risks arise from external factors like economic conditions, political changes, market shifts. These unpredictable risks can impact the entire organization and industry
Types of Project Risk: External Risks
Risk management involves identifying, analyzing, and prioritizing potential risks to create strategies that mitigate or eliminate them. It requires the involvement of all stakeholders
What is Risk Management?
Identify and assess potential risks, analyze their likelihood and impact, prioritize by significance, develop plans to address them, and implement strategies.
Risk management steps
Risk management is crucial for successful project execution. By applying risk management strategies, businesses can make informed decisions