⬅ Previous Next ➡ 🔹 Lesson 1: Risking Identification and Risk Assessment Learning Objectives By the end of this lesson, you should be able to: Explain the meaning and importance of project risk management. Identify common risks that affect projects. Assess the likelihood and impact of project risks. Develop strategies for managing identified risks. Introduction Every project operates in an environment where unexpected events can affect success. Risk identification and assessment help project teams understand possible problems before they occur and prepare appropriate responses. Effective risk management improves project performance, protects resources, and increases the likelihood of achieving project objectives. Lesson Content • Understanding Project Risk Project risk is an uncertain event or condition that may negatively or positively affect project objectives such as time, cost, quality, and results. A risk does not mean that a problem has a...