Risk management is a key component in the business plan. Risk management techniques are used to identify, assess, and prioritize risks that might create a negative impact on the business. The companies encounter risks which can be of high priority or low priority. The risks can arise due to failures such as strategic, operational,financial, political instability, and natural disasters. Risk managers play an important role in identifying the risk and design a plan to mitigate them. The risk managers can make use of various strategies risk management standards, designed and developed by the Project Management Institute, the International Organization for Standardization (ISO) to safeguard organizations interests and goals.
27 FEB 2019RACI Matrix: How does it help Project Managers?