5.3. ALL PROJECT MANAGEMENT IS RISK MANAGEMENT

Insurance companies understand and practice risk management better than most project managers because they realize that it is their primary business. Not many project managers realize that it is also their primary task, but those who do have an edge: They are constantly on the outlook for uncertainty that could lead to project failure.

Risk management is the primary job of a project manager? Yes, it's true, especially if you look at it this way: Every technique in every chapter of this book is really a risk management technique. Some techniques reduce the risk of being late. Others reduce the chances of overrunning the budget. A few address the process for ensuring the quality of the end product. And all techniques try to increase the satisfaction of every stakeholder and improve the chances of success.