Project Risk Management As A Key Component 3 Essay

Project Risk Management As A Key Component 3 Essay

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PROJECT RISK MANAGEMENT
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TABLE OF CONTENTS
PROJECT RISK MANAGEMENT AS A KEY COMPONENT 3
RISK MITIGATION AND AVOIDANCE 4
COST ESTIMATION AND PROJECT RISK MANAGEMENT 4
REFERENCES 4





PROJECT RISK MANAGEMENT AS A KEY COMPONENT

A risk is the probability of defining something that will go wrong as a cause of any event or any due to any series of sequences. A risk management plan contains assessment, analysis and handling the risk. It is divided into four categories denoted as technical risk, schedule risk, cost risk and programmatic risk. The process to mitigate the risks involved with the project development is explained as follows:
• The business of an organization should be compared with the other organization of the same size and developing same types of products.
• Compare with other larger enterprises as this would give the appropriate data whether the organization is ready to grow or not.
• Decide all or any specific field whose benchmark needs to be settled down for a broader overview.
• Consider data of turnover, sales, an...

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