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Every project involves risks and there is the need to have a management strategy for dealing with the threats and opportunities represented by such risk.This text explains the key issues and concepts involved in effective risk management in a clear and accessible way. It also provides a comprehensive approach that is applicable to all sizes of project, whether requiring detailed, qualitative and quantitative analytical approach. As you read this book, you will learn: Why a proactive approach to risk management is necessary; How to develop a risk management plan that will protect the project; How to identify and document risks; How to prioritize risks by assessing their probability and impact; How to assess risks using both qualitative and quantitative approach; Practical application of project risk management.