Find an article and critique on a current article related to project risk management. Instructions: Source must be...

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Finance

Find an article and critique on a current article related toproject risk management.
Instructions:
Source must be scholarly in nature:
Outline the issue
Why is the article / topic important?
What does this article mean to you?
Write 1 - 3 pages in APA format
This article critique should be in APA format grammar, spellingand quality will influence your grade. Kindly also attach thearticle that you decide to use as a source. No pictures and nohandwritten materials please.

Answer & Explanation Solved by verified expert

3.9 Ratings (426 Votes)

Project Risk Management A risk is a deviation of uncertainty that may result in undesirable outcomes In a project management context if these risks become realities then they are classified as issues which must be addressed The occurrence of risks in any project can leave a positive or negative effect on its objectives To prevent any type of loss or disturbance it becomes an integral part of every project managers job to have a proper risk management plan Project risk management refers to the process where a project manager tries to identify potential risks in advance analyze them and then take proper precautions that will help in reducing or curbing the risk Now risks can arise at any point of the project lifecycle and by performing appropriate risk management you can ensure that your project remains on track and meets its goal Drilling deeper into project risk management a different type of project can mean different things For example the risk management strategies of largescale projects might differ from those of the smaller ones They might be having a detailed plan for each risk to ensure that the mitigation strategies are always up and aligned in case the issues arise Whereas for smaller projects the risk management plan is more on the simpler side They will be having a simple plan with the tasks organized in decreasing order of their priority in the project I think with this you are clear with what actually is project risk management Now lets move further in this article and understand why risk management is so important Need for Project Risk Management As I have already mentioned project risk management helps in predicting and mitigating the risks which help in avoiding any kind of loss or conflict in the project But the scope of risk management doesnt end here There are a lot more sweeping benefits that can change the complete outcome of a project Below I have listed down a few of them Evaluating Problem Areas A detailed project risk management plan will give you a clear cut picture of your project and the problematic areas in it That way you will be able to See Answer

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