Improving Project Decision Making and Reducing Exposure Through Risk Management

Formalized risk management is an essential control tool for project management and an important aide to decision making.

This paper explains how the application of formalized risk management can improve the decision-making process within projects and help organizations to reduce risk exposure. It examines various risk management techniques and looks at how software tools can help to implement these techniques. The general techniques and methodologies described in the paper can be applied to any type of project in any industry.