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What is risk management?

Project risk management is that part of project management which considers how a project could deviate from its base plan, and which responds when it does.

Risk management involves:

  • Considering risk in the project plan and statements of benefits.
  • Capturing, assessing and documenting assumptions of risk as part of the overall project documentation and control.
  • Using risk analysis to understand the logical consequences of those assumptions, and how much is each area and phase of the project exposed to risk (and to which particular risks).
  • Using the risk assessment and analysis to inform decisions around controlling mitigating, monitoring and managing risk, as well as to indicate sensible promises that the project has a reasonable chance of meeting.
  • Open discussions and honest appraisal of the project.
  • The team as a whole to contributing, understanding and owning the risk assessment (as they do the project plan).

Risk management helps the project plan for risk better, make more achievable promises, and manage risk better.

Our service

At Trigo White we provide a risk management service that uses White Box risk management, which is well-received by the projects that use it.