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3 |
Risk Definitions and General Categories
This chapter addresses the following questions: What exactly are risks? How can they be clearly articulated? How are project risks typically categorized or grouped? Materialized risks are referred to as issues. Determining potential issues that may arise over the life of a project and being aware of their associated causes is the basis for proactive project risk management. Some of the more common methods for categorizing and grouping risks are highlighted here. These help assess overall project risk relative to their potential impact on meeting key project objectives. Thus, the definitions and groupings of risk that follow are important to understand when identifying, assessing, and ...
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