Project Risks

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Now, world is moving in very fast way. Importance of project and project management increased in every organization. It can be infrastructure projects, Space projects, software projects, Power projects, Oil and Gas projects, Telecom projects, Construction projects, product development projects etc. Managing the Project risks is the key challenge because projects are unique, mostly new, heavy cost involved. To handle the projects in Best way required a better, educated and experienced project management team which can handle following risks- 1. financial risks 2. Location risks 3. Technological risks 4. manpower availability risks 5. Procurement and timely delivery risks 6. natural risks (Earthquake, Typhoon, tunami etc.) 7. Planning risks 8. Hidden risks To manage project risks, it is required to identify the individual risks in each activity of project breakdown structure. First identify, how many risks, you can handle, secondary, if you can't handle, transfer it to sharing with other companies like insurance, third, if you can't handle them, forget about project success timely, within budget and allocated resources.