What are risk management processes and its steps?
Some expert’s say that a robust risk management processes can reduce problems by 80 or 90 percent over a problem. In combination with a solid project management practice - having well-defined scope, incorporating input from the right stakeholders, following a good change management process, and initiating a communication line - it is important to cut a good risk management process at risk of surprise or unexpected projects. Such a process can help solve problems when changes occur, as those changes are now expected and action has been reviewed and approved, avoiding knee-jerk reactions. What is risk management process? Before starting a risk management processes, there must be a solid understanding of some key definitions. Project risks, defined from a PMI point of view, are at their core, unfamiliar events. These events can be positive or negative, making the word "risk" inherently neutral. That said, most of the time and attention is spent dealing with negative ...