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How can you define risk? Risk is the likelihood of and event or occurrence that could adversely affect the achievement of an organization's objective $($Office of the Chief Risk Officer, n$.$d$.).$ In my career we define risk as potential events that could cause damage to people or equipment. The Army uses its own risk management system. The core of Army risk management system to define risk that involves five steps, identify the hazards, assess the hazards, develop controls and make risk decisions, implement controls, and supervise and evaluate $($Department of the Army $[$HQDA$],2021).$ I have been using this system for the better of two decades to define an identify risk and take the appropriate measures to implement controls to reduce the risk.

Risk should be dealt with factually and practically. So how can a group of individuals discuss risk in a practical manner?Projects require a timeline, budget, and technical inputs. How can you improve your estimates for each? I believe a group setting is the best way to identify the risks of a project. Our ebook tells us there are four steps to the risk management process regarding project management. The steps are risk identification, risk assessment, risk response and development, and risk response control $($Larson et al$.,2024,$ p$.222).$ Using this process a team can discuss and assess risk while developing the project scope to develop controls, develop contingency plans and budgets, and ways to reduce overall risks. If risks are identified properly during the planning process and contingency plans are communicated to the project teams, projects stand a better chance of succeeding and not being affect when adverse events occur.

Regarding the budget, be it work, home or with Post University, what$$s the best way to show those with the money that contingency funds are a necessity? Contingency funds are a necessary safety net for projects. In a perfect world, the project would go as planned and the contingency fund could be return at the project close$-$out. Unfortunately, we do not live in a perfect world and unforeseen circumstances occur regardless of how much planning is done. Contingency funds allow the project manager to implement contingency plans when project encounter obstacles that require additional funds. If contingency funds are not in place, there could be further budgetary set back while the project manager try$\text{'}$s to procure additional funs from the client and$/$or stakeholder$($s$).$

Where do you think the greatest opportunities are in a project to reduce risk? The planning phase would be the best start to implement controls and plans to reduce risk. It is impossible to identify all risk that can occur during a project. Conduction identification meeting with team member or team leaders during the project planning phase will help tremendously. Identifying and reducing risk happens trough a project. The Army's last step in their risk management process is supervise and evaluate. Leaders and managers are all level must be aware of the risk management assessment and evaluate to identify new risks that may occur. Leader must empower their team members to communicate suspected risk events from the lowest levels. Open communication and understanding of the projects risk is a surefire way to identify risk events early so they affect the project timeline or budget.