Chapter 11. Introducing Project Risk Management

Risk is everywhere. From driving a car to parachuting, it's inherent in the activities we choose. Within a project, risks are unplanned events or conditions that can have a positive or negative effect on its success. Not all risks are bad, but almost all are seen as a threat.

The risks that activities bring are an exchange for the benefits we get from accepting that risk. If a person chooses to jump out of a perfectly good airplane for the thrill of the fall, the exhilaration of the parachute opening, and the view of earth rushing up, there is a risk that the chute may not open—a risk that thrill seekers are willing to accept.