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know it, someone not under your control tosses in the first ball, thus mayhem and chaos erupts [5]. In the ideal project the mousetraps are gone. In their place there is a network of dominos, where each action and reaction could be foreseen [5]. It is within the role of organisations to try and identify these mousetraps and replace them with an orderly string of dominos [5].

Project Priority and Management Support: Support from managers and other project stakeholders and commitment from the project team are more easily won when projects are based on thorough, understandable information [11]. High-risk projects may begin with lower priority, but a thorough risk plan, displaying competence and good preparation for possible problems, can improve the project priority [11]. Whenever you are successful in raising the priority of your project, you significantly reduce project risk—by opening doors, reducing obstacles, making resources available, and shortening queues for services [11].

Project Portfolio Management: Achieving and maintaining an appropriate mix of ongoing projects for an organisation uses risk data as a key factor. The ideal project portfolio includes both lower- and higher-risk projects in proportions that are consistent with the business objectives [13].

Fine-Tuning Plans to Reduce Risk: Risk analysis uncovers weaknesses in a project plan and triggers changes, new activities, and resource shifts that improve the project. Risk analysis at the project level may also reveal needed shifts in overall project structure or basic assumptions [14].

Establishing Management Reserve: Risk analysis demonstrates the uncertainty of project outcomes and is useful in setting reserves for schedule and/or resources. Risky projects really require a window of time (or budget), instead of a single-point objective. While the project targets can be based on expectations (the 'most likely' versions of the analysis), project commitments should be established with less aggressive goals, reflecting overall project risk. The target and committed objectives set a range for acceptable project results and provide visible recognition of project risk [18].

Project Communication and Control: Project communication is more effective when there is a solid, credible plan. Risk assessments also build awareness of project exposures for the project team, showing how painful the problems might be and when and where they might occur. This causes people to work in ways that avoid project difficulties. Risk data can also be very useful in negotiations with project sponsors. Using information about the likelihood and consequences of potential problems gives project teams more influence in defining objectives, determining budgets, obtaining staff, setting deadlines, and negotiating project changes [18].

Risk Assessment & Risk Control

There are two stages in the process of Project Risk Management, Risk Assessment and Risk Control. Risk Assessment can take place at any time during the project, though the sooner the better. However, Risk Control cannot be effective withou本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。