Contents

• Abstract 1
• Concept of Project Risk 3
• Measurement of Risk 4
• Importance of Project Risk Management 5
• Project Risk Management Strategy 6
• Managing Risks Associated with New Technology Development 7
• Project Risk and Procurement Management 9
• References 11

Description

This paper is based on the following requirements -
What exactly is risk from the viewpoint of a project manager or business with responsibility for planning, organising and managing projects? How can it be managed effectively and who should be responsible for this task?
You are required to critically analyse the concept of risk; discuss how it can be measured and ranked and outline how a project risk management strategy may be constructed for a project involving a new technology developed by an international team that is to be launched within a six month time period.
In completing this assignment, you should address how appropriate risk management strategies can assist in minimising risk for the project. Remember this is an academic piece of work – a literature review is mandatory.
Assessment Housekeeping: