QUESTION 37
HOW CAN I MINIMISE THE RISKS ASSOCIATED WITH MY PROJECT?
Why it’s important: There are risks associated with everything you do. They can’t be eliminated, but you can try to minimise the effect they might have on your project.
All plans are concerned with the future and therefore they contain within them potential risks because you are dealing with uncertainty and the unknown. Your job as project manager is to manage/minimise those risks and to take quick effective action if a risk evolves into a problem.
You can think of a risk in terms of the ‘How likely is it to happen?’ and ‘If it does happen, how great will the impact be?’
The areas ...
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