Risk management
The process of identifying, assessing, and mitigating risks throughout a project's lifecycle.
Risk management involves identifying, assessing, and mitigating potential threats to project objectives, ensuring proactive and strategic responses. It is crucial for protecting resources, maintaining schedules, and achieving project goals. Effective risk management enhances decision-making, supports resilience, and fosters a culture of preparedness, enabling teams to navigate uncertainties, optimize opportunities, and deliver successful project outcomes by minimizing risks and maximizing performance.
Used in a sentence
Effective risk management helped prevent potential delays.
Synonyms/variation
Risk Assessment
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