- DEFINITION FOR RISK MANAGEMENT
The term risk management refers to the process designed for identifying, assessing and prioritizing risks of different kinds. It is prudent to note that once the risk has been identified. The managing director of the project will have to create a plan in order to reduce or completely do away with the negative impacts which may be associated with the risk.
- OBJECTIVES OF RISK MANAGEMENT
The fundamental objective of the risk management is to protect the project from being exposed. It is designed to help keep the project viable and to reduce financial risks. It is also designed to protect the employees, customers and ...