Question: Project success depends on efficient risk management because it enables teams to foresee possible problems and take action before they become more serious. Teams can

Project success depends on efficient risk management because it enables teams to foresee possible problems and take action before they become more serious. Teams can lessen the possibility of delays and cost overruns by proactively identifying risks and developing methods to mitigate their impact. In addition, risk management encourages open communication and teamwork, giving team members the confidence to voice concerns and cooperate to discover answers. Moreover, successful risk management offers chances for innovation and expansion in addition to preventing unfavourable outcomes. Teams can promote positive change and improve project performance by taking calculated risks and grabbing opportunities.

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