Control Project Risks

Abstract

Risk is a common concern of project management professionals. What is risk? In short, risk is any factor that may affect project success. From this perspective, the occurrence of risks may have positive or negative impacts on a project. Following the habit of thinking, the former is defined as opportunity, while the latter is defined as threat. Indeed, risk is inherent of a project and originates from a variety of uncertainties. It is impossible to eliminate these uncertainties prior to the project completion regardless of the level of skills, knowledge, or commitment of project team.