Key Concepts Project Risk Management

1.1 Introduction

Projects are becoming increasingly complex and the pressure is increasing to deliver results quickly. Many companies have responded to these trends by starting initiatives to professionalize project management. This has resulted in more attention for project risks, as they can have a large influence on project results. Another stimulus has been the pressure on larger companies to be transparent about the risks they face.

This chapter introduces the concept of project risk and describes the steps in the risk management process. It also explains the added value of proactive project risk management.