This document discusses risks and constraints that are important for intelligent project management. It defines risks as possible events that could have unwanted consequences, while constraints are real-world limits. Risk management aims to identify potential problems early to address them cheaply before issues arise. Common project risks include funding, time, staffing, customer relations, size and complexity. The document also outlines different types of risks and important constraints to consider, such as budget, schedule, resources, facilities and infrastructure. It stresses the importance of accounting for all risks and constraints before starting a project.