Identifying and Managing Project Risk: Difference between revisions

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Risks fall into three broad categories — controllable known, uncontrollable known and unknown. For the former two, one must understand the risks before they can determine how to manage them. This is done using [[root cause analysis]]. As the name implies its goal is to look for the root cause on the problem and solve it at that point. Kendrick briefly discusses the use of fishbone diagrams as a tool to assist in this process. Even unknown elements should be handled in this manner, but obviously do it as they are incurred. do it.
 
The four ways of handling risk are: