Define risk and give a basic list of risk management steps.
What will be an ideal response?
A risk is an event that could affect the project negatively. Risk management is the process of identifying, analyzing, anticipating, and monitoring risks to minimize their impact on a project.?The first step in risk management is to develop a specific plan. Although project management experts differ with regard to the number of steps or phases, a basic list would include the following tasks:• Develop a risk management plan.• Identify the risks. • Analyze the risks.• Create a risk response plan.• Monitor risks.
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