Risk Management, Assessment and Mitigation

Risk Management and Risk Mitigation

Project Risk Management and Risk Mitigation is the process of identifying, assessing, and mitigating risks to scope, schedule, cost and quality on a project. Risks come in the form of opportunities and threats and are scored on probability of occurrence and impact on project.

Risk Management is 1 of 10 Knowledge Areas in the Project Management Body of Knowledge (PMBOK®). Project Managers need to understand the fundamentals of risk management to get the Project Management Professional (PMP®) certification.