Risk Assessment


What is Risk Management?

Risk is an uncertain event that may have a positive or negative impact on the project. Risk Management is the process of identifying and migrating risk.


Why is it important?

  • Risk affects all aspects of the project, budget, schedule, scope, the agreed level of quality and so on
  • Increase probability of positive event
  • Reduce the occurrence of negative event

Here is a video on Risk Assessment vs Risk Management:

Now that you have a fare idea about Risk Assessment & Risk Management, lets get into more to know the importance of Risk Assessment in the next chapter.