Project Risk Management: A Practical Implementation Approach

CHAPTER

1

Practical Application of Project Risk Management

Overview

Proactive employment of project risk management concepts by project managers and their teams can make a substantial difference between being successful or unsuccessful in achieving project objectives. This is not a new notion. In fact, one of the major requirements for the Project Management Professional (PMP)® certification is successful completion of a course on project risk management because it is considered a critical Knowledge Area in A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Fifth Edition. Thus, more and more project managers are becoming armed with a good understanding of how project risk management interrelates with other project ...