MANAGEMENT

Detailed explanation-1: -In project management, risk management is the practice of identifying, evaluating, and preventing or mitigating risks to a project that have the potential to impact the desired outcomes. Project managers are typically responsible for overseeing the risk management process throughout the duration of a given project.

Detailed explanation-2: -Project managers have to assess the risks that may affect a project. Explanation: Risk management involves anticipating risks that might affect the project schedule or the quality of the software being developed, and then taking action to avoid these risks.

Detailed explanation-3: -The risk management process includes five steps: identify, analyze, evaluate, treat, and monitor. You can mitigate risks by avoiding, accepting, reducing, or transferring them.

Detailed explanation-4: -Identify Risks Early with a Risk Register One way to do this is with a risk register. A risk register (also known as a risk log) is an important part of risk management. It’s created at the start project and acts as a tool that helps project managers track issues and deal with them as they arise.

Detailed explanation-5: -The role of the project manager during risk assessment is to lead the team in identifying potential risks and developing strategies to mitigate those risks. The project manager should work with the project team to identify potential risks and assess their likelihood of occurrence.