Activities involved in risk management process

There are following activities involved in risk management process:

· Identification –
           Make note of all possible risks, which may occur in the project.

· Categorize –
          Categorize known risks into high, medium and low risk intensity as per their possible impact on the project.

· Manage –
          Analyse the probability of occurrence of risks at various phases. Make plan to avoid or face risks. Attempt to minimize their side-effects.

· Monitor –
           Closely monitor the potential risks and their early symptoms. Also monitor the effects of steps taken to mitigate or avoid them.


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