Risk management involves identifying, assessing, and responding to project risks in order to minimize the likelihood of occurrence and/or potential impact of adverse events on the accomplishment of the project objective.

Question

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Risk management is a process that involves identifying possible risks, assessing the risks, and developing plans to respond to them in order to reduce their likelihood or potential impact on the project's success.

Risk Management Involves Identifying, Assessing, and Responding to Project Risks