Risk management

Risk management

The purpose of risk management is to identify uncertainties (whether threats or opportunities) which could impact on business, programme or project objectives, to increase benefits from opportunities and to mitigate or eliminate negative impacts.

It is important to note that risk is an inherent part of progress and that we are not always seeking to eliminate risk but to control and manage it.

Risks can be identified, analysed, managed and reviewed through all phases of a programme or project. Risks must be managed and tracked throughout a project lifecycle, and mitigation and contingency plans should be developed and implemented.

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