What is Project Risk Management? Project Management in Under 5

The video tutorial explains project risk management, starting with the definition of risk as uncertainty affecting outcomes. It highlights why projects are inherently risky due to constraints and the novelty of tasks. The tutorial outlines a four-step risk management process: identifying, analyzing, prioritizing, and managing risks. It emphasizes the importance of continuous monitoring and control to ensure project success.

What is the definition of a risk in project management?

Why are projects considered inherently risky?

What are the four steps in the project risk management process?

What factors are analyzed when assessing project risks?

What is the importance of taking action in the risk management process?