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Sagot :
These management of risk serves as assessment and controlling of threats to an organization's capital and earnings.
What is risk management?
This management entails the identifiying, analyszing and responding to risk factors that form part of the life of a business.
- The risk identification in risk management includes documenting and communicating of concern of threats.
- The impacts of risks & responses in risk management includes efforts to assess the consequences of an existing risk.
- The action for minimizing risks inculudes use of insurance to minimize loss occuring from a risk.
- The action of risk monitoring tracks and evaluates the levels of risk in an organisation.
In conclusion, the risk management is an essential part for an a project management because a managed risks will significantly increase the likelihood of project success.
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