Your assignment is to prepare and submit a paper on risk management process. The second step that makes up the process of risk management is based on the assessment of the likelihood and outcomes of the risk. This means that the frequency and probability of the risk are measured in conjunction with the severity of its outcomes. 3) Create Controls and Make Right Decisions The third step in the risk management process is the formulation of control measures for minimizing risks. R. S. Khatta (2008) elaborates that controls are most effective when the causes that lead to risk are effectively dealt with. 4) Making Right Decisions The decision committee then reviews the control options and implements those which reduce the possibility of risks to a minimum. Such decisions are highly dependent on the cost. 5) Monitoring and Evaluating Controls The controls being implemented need to be evaluated precisely. Constant monitoring of controls aimed at minimizing risks is also essential. Feedbacks are generated so as to analyze the effectiveness of controls (Steven S. Wilder, 1997). Role of the Project Manager in Risk Management Process John Bartlett (2004) writes that without any second thought, a project manager can be called as the champion of the risk management process. A project manager is the one who has the responsibility of ensuring that the project is being run as planned and the entire team is enthusiastically engaged. He actively communicates with the suppliers and contractors and has access to the updated financial data. Few of the roles of the project manager in the risk management process include ensuring the implementation of the risk management process in the project. A project manager assesses the possible occurrence and severity level of the risk.&nbsp.


Homework Essay Writers

Lets Start Working

Plagiarism Free

We use anti-plagiarism software to ensure you get high-quality, unique papers. Besides, our writers have a zero plagiarism mentality

On Time Delivery

Your essay will be delivered strictly within the deadline.  If you have an urgent order, we can do it!

Money Back Guarantee

We offer warranty service, including free revisions, and a right to request a refund incase your expectations are not met!


Our Advantage

  • Say “NO” to plagiarism – FREE plagiarism report as an addition to your paper
  • The lowest prices that fit excellent quality
  • Authorship – you are the one who possesses the paper. We DO NOT re-sale or re-use any of them.


Our Freebies

  • Free Cover Page
  • Free Revisions
  • Free Reference Page
  • Free 24/7 support

Pin It on Pinterest

Share This