MANAGEMENT

Detailed explanation-1: -1 Answer. For 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-2: -Unmanaged risks can easily prevent a project from achieving objectives or even cause it to fail to succeed. Risk management is important during project initiation, planning, and execution; well-managed risks significantly increase the likelihood of project success.

Detailed explanation-3: -Risk management is now recognized as one of the most important project management tasks.

Detailed explanation-4: -Project managers are typically responsible for overseeing the risk management process throughout the duration of a given project.

Detailed explanation-5: -Risk management is an important process because it empowers a business with the necessary tools so that it can adequately identify and deal with potential risks. Once a risk has been identified, it is then easy to mitigate it.