Question: Risk management involves identifying, assessing, prioritizing, and mitigating potential risks that may impact the success of a project, organization, or endeavor. It encompasses a systematic
Risk management involves identifying, assessing, prioritizing, and mitigating
potential risks that may impact the success of a project, organization, or
endeavor. It encompasses a systematic process of analyzing uncertainties,
evaluating their potential impact on objectives, and implementing strategies to
minimize their adverse effects.
How can we systematically manage risks in a project, focusing on identifying
potential risks, evaluating their impact, prioritizing them for treatment, and
monitoring and controlling them throughout the project lifecycle?
Support your answer using a HIRARC or Risk Register document and a Case
Study.
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