Project Management: The Definition of Risk

The video tutorial explains the nature of projects, emphasizing their unique goals and deadlines. It introduces the concept of risk as an uncertainty that can affect project outcomes, highlighting that risks can be either threats or opportunities. The importance of risk management in projects is discussed, with a focus on identifying and handling both negative and positive risks effectively.

What are the key characteristics that projects seek to achieve?

How does risk uncertainty play a role in project management?

Define what a risk is in the context of project management.

What should project managers consider regarding positive outcome risks?

Why is risk management considered a vital discipline in project management?