An investigation of risk management strategies in projects

Abstract

Risk is considered as an inseparable part of any project and since all the effective factors in projects are not predictable, risk management is inevitable. One of the biggest administrative problems with internal projects is the managers' neglect of the importance of risk management which leads to delay in projects delivery and increase of the cost of the projects. Since not all risks are regarded as threats but also as opportunities, risk management is considered as a balance factor between the loss of threats and the profit earned through opportunities. It has focused on some strategies for successful implementation of risk management in projects as well. In the risk management, the most logical way of planning is managing risk before taking risk. This study investigated risk and risk management, its aims, components, and different stages of risk to reach the expected aims and outcomes of the study.