Defining a Projects Risk Categories

Based on the nature of the work, there should be identified categories of risks within the project. Figure 11-1 depicts one approach to identifying risk categories by using a risk breakdown structure (RBS). Throughout the project, the risk categories should be revisited to update and reflect the current status of the project. If a similar risk management plan is available from a previous project, the project team may elect to use this plan as a template and tailor the risk categories accordingly. There are four major categories of risks:

Figure 11-1 A risk breakdown structure can organize risks by categories.
Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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