Risk Management Strategies and Structures in Projects — Flashcards | FRM (Foundations Of Risk Management) | FatSkills

Risk Management Strategies and Structures in Projects — Flashcards

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Project risk management involves a structured, 5-step process (identify, analyze, evaluate, treat, and monitor) to minimize disruptions, using strategies like avoidance, mitigation, transfer, and acceptance.

Key structures include Risk Breakdown Structures (RBS) for categorization, Risk Registers for tracking, and contingency reserves to ensure budget and schedule adherence.

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What does the Risk Breakdown Structure (RBS) do?
It organizes project risks in a hierarchical structure from general to specific.
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