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Bsbwor504 Final Project

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When the manager of project carried out its work plan should take into consideration the possible risks that may occur within the project. The risk is the possibility that occurs a problem within a project and that may cause some change within the same (Heldman, 2011). It should be noted that not all risks are bad since they can be potential opportunities to make some changes that will improve the overall status of the project. In the same way a risk not taken into account in time can create one problem in the project and can completely change the final performance of the project. The project manager can take several elements to identify the risks. Some elements and documents that can be used to identify risks are: search internal risks of the project, such as resources …show more content…

Also the time required to complete the project v...
After discovering the risks it may determine the risk tolerance. This is the level of tolerance that is about the risks that may occur (Heldman, 2011). Within a project refers to the level of risk tolerance that can be tolerated by putting in perspective the benefits that occur when taking that risk (Heldman, 2011). Project Manager depart a game of the budget as a contingency reserve. This is used so that in the event of any problems the project is not affected. It is a reserve that is intended to be used in case of emergencies, which can not be addressed through another type of risk (Heldman, 2011) management strategy. Manager can use several strategies to respond to the risks. Strategies to respond to negative risks are: acceptance, rejection, transfer, mitigation (Heldman, 2011). Acceptance is face the risk and accept the consequences of the risk already...Risks can have a positive impact, and for these the project manager uses

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