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No matter how well we plan and organize our projects, the odds are something outside the plan will happen to throw our project off-track. This “something” could impact schedule, cost, quality or any combination of the triple constraints. If at the beginning of the project we can identify potential events or risks that will have project impact; categorize each by its magnitude of impact and likelihood to occur; and develop a risk management plan to mitigate or eliminate these impacts we can lead a much more successful project. In this presentation we will explore a simple and basic approach to risk management.
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