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RESEARCH METHODOLOGY AND PROJECT MANAGEMENT
ASSIGNMENT
ON
PROJECT RISK
SUBMITTED TO: SUBMITTED BY:
DR. KANHAIYA LAL ROHIT KUMAR
CLRM CUJ/I/2013/IGIO/026
7TH SEMESTER
What is Project Risk????
 A risk is any factor that may potentially
interfere with successful completion of the
project.
 Project risk is an uncertainty that can have a
negative or positive effect on meeting project
objectives.
 Negative risk involves understanding
potential problems that might occur in the
project and how they might interfere with
project success.
 Positive risks are risks that result in good
things happening; sometimes called
opportunities.
The Importance of Project Risk
Management
 Project risk management is the art and science of identifying,
analyzing, and responding to risk throughout the life of a
project and in the best interests of meeting project objectives.
 Risk management is often overlooked in projects, but it can
help improve project success by helping select good projects,
determining project scope, and developing realistic estimates.
Risk Management Steps
There are four major steps to developing a risk
management plan:-
Identify all the possible risk events that could affect
the project
Assess each risk in terms of probability, impact
severity and controllability
Develop a strategy and/or contingency for
responding to each risk
Monitor and control risks dynamically
CONCLUSION
Every project has its own set of risks involved. We can
not eliminate risk from a project but we can manage risk
that interfere with successful completion of project and
use risk as an opportunity.
REFERENCES
 “Managing Risk”, Chapter 7 in Project Management – The
Managerial Process by Clifford F. Gray and Erik W. Larson,
2nd Edition, Published by McGraw-Hill / Irwin, 1221 Avenue
of the Americas, New York, NT, 10020, 2003
 Billigham, V.(2008),project management: How to plan and
deliver a successful project(Studymates),3rd edn, The Project
Management Excellence Centre Inc.
 Lock, D. (2007), Project Management, 9th edn, MPG Books
Ltd.
Project Risk

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Project Risk

  • 1. RESEARCH METHODOLOGY AND PROJECT MANAGEMENT ASSIGNMENT ON PROJECT RISK SUBMITTED TO: SUBMITTED BY: DR. KANHAIYA LAL ROHIT KUMAR CLRM CUJ/I/2013/IGIO/026 7TH SEMESTER
  • 2. What is Project Risk????  A risk is any factor that may potentially interfere with successful completion of the project.  Project risk is an uncertainty that can have a negative or positive effect on meeting project objectives.
  • 3.  Negative risk involves understanding potential problems that might occur in the project and how they might interfere with project success.  Positive risks are risks that result in good things happening; sometimes called opportunities.
  • 4. The Importance of Project Risk Management  Project risk management is the art and science of identifying, analyzing, and responding to risk throughout the life of a project and in the best interests of meeting project objectives.  Risk management is often overlooked in projects, but it can help improve project success by helping select good projects, determining project scope, and developing realistic estimates.
  • 5. Risk Management Steps There are four major steps to developing a risk management plan:- Identify all the possible risk events that could affect the project Assess each risk in terms of probability, impact severity and controllability Develop a strategy and/or contingency for responding to each risk Monitor and control risks dynamically
  • 6. CONCLUSION Every project has its own set of risks involved. We can not eliminate risk from a project but we can manage risk that interfere with successful completion of project and use risk as an opportunity.
  • 7. REFERENCES  “Managing Risk”, Chapter 7 in Project Management – The Managerial Process by Clifford F. Gray and Erik W. Larson, 2nd Edition, Published by McGraw-Hill / Irwin, 1221 Avenue of the Americas, New York, NT, 10020, 2003  Billigham, V.(2008),project management: How to plan and deliver a successful project(Studymates),3rd edn, The Project Management Excellence Centre Inc.  Lock, D. (2007), Project Management, 9th edn, MPG Books Ltd.