A risk management approach for the project management process

16 Nov 2009

A number of project management and project risk management processes have been developed by various researchers, consultants and project managers. Most project managers apply some project management process that comprises a number of steps or phases that are executed in a systematic way. At some point in the project management process a risk management process, also comprising a number of steps, is usually initiated and executed. An initial risk analysis process is complemented by a risk monitoring and control activity that continues for the remaining duration of the project. This paper describes a methodology to combine typical processes for project management and project risk management into a single process.