The risk is defined as an uncertain event that must occur, will affect the project that fulfills its objectives. This uncertain event can be positive in this case it will be called an opportunity, when the negative is called a threat. Both have general yarn uncertainty. You can find more about investment risk analytics via https://ziggma.com/investment-portfolio-tracker/.
When carrying out risk management, the aim is to reduce the probability and impact of threats and to increase the probability of opportunities and / or their positive impact. It is very helpful to consider that the risk is "an event that might not be possible in the future, but if it happens it will have an impact on the project objectives".
Business casts will contain information that weigh on project costs and risks to business benefits. Simply put, that the risk of aggregate projects is worth the benefit. If so, then the business case is feasible, desirable, and can be achieved. This fact highlights the importance of appropriate risk management. Every time a new risk is identified, the existing risk changes its characteristics, the problem is identified, or at an important control point such as the final stage assessment – business cases must be examined for viability – and this includes the aggregate value of all the risks.
Effective risk management requires clearly identifying every risk, and estimate it in terms of probability and its impact and control it by taking appropriate action and ensuring these actions, and continue to have, the desired effect.
Before entering the risk details, a project must determine the risk management strategy that illustrates how risk management will be used and implemented in the project. Risk management strategies must include, among other aspects:
– certain tools and techniques that will be used
– Responsibilities for risk management measures