The Nature of Project Risk. Approaches of the Project Risk Management and the Possibilities for their Improvement
The Nature of Project Risk. Approaches of the Project Risk Management and the Possibilities for their Improvement

Summary/Abstract: Project’s specific risk factors are both internal factors that appear as a consequence of their nature and characteristics and external factors that belong to the projects’ environment. Risk management is an iterative process that takes place over the entire life cycle of the project and through which risks are identified and analysed in order to offer the adequate responses for each risk. The methods can be used for the identification of the risks involved by the realisation of the projects are general methods (like the risk table, control lists, flaws diagram,) or methods specific for project management ( like the Risk Breakdown Structure -RBS) . The general response strategies at the project risk depend on the criteria used: preventing, avoiding, accepting and transferring the risks. A project risk management process has to be a major component of the management of any project, with an important role in the implementation of the objectives indicated at its beginning.

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