comparing risk, risk management

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6 Terms

1
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risks

potential future events that may or may not occur

2
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changes

modifications in project scope, budget, or timeline that require adjustments in project activities or resources

3
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risk management 4 tasks

identifying the risk

analyzing the risk

treating the risk

monitoring the risk

4
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risk owner

the person responsible for managing a risk who creates plans for risk mitigation and response and is the first to be notified when a risk occurs

5
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risk manager

administers the risk register and leads the overall risk management process, including risk analysis and response

6
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senior management

responsible for managing organizational risks and may become stakeholders for specific risks in a project depending on their priority and nature