Project Risk Management

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Stephen V


Date added:

October 12, 2012








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3 / 811


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"Risk identification is generally done as part of a feasibility study, at the beginning of the active project work, and at each new phase of a large project. The process of identification is assisted by use of risk factor tables that capture indicators of commonly encountered risks." (Texas DIR, 2000) Some project managers add a tracking and control step ? a post-mortem of sorts...
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Risk exposure is defined as the product of the likelihood that the risk will occur and the magnitude of the consequences of its occurrence." (Texas DIR, 2000) By addressing the most significant risks items, the project should proceed smoothly with optimal success. Robert Tusler (1996) quotes Larry Krantz, Chief Executive of Euro Log Ltd as saying that "A risk is a combination of constraint and uncertainty...
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