Risk Evaluation

Risk evaluation in project risk management involves assessing the potential risks a project might face and determining their significance. This process helps identify which risks could impact the project’s success and how serious these risks are. By analyzing the likelihood of each risk occurring and the potential consequences, project managers can prioritize which risks need immediate attention or strategies to mitigate. Essentially, it’s about understanding what could go wrong and making informed decisions on how to manage those uncertainties effectively to keep the project on track.