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THEORETICAL FRAMEWORKS RELATED TO RISK IDENTIFICATION AND MITIGATION IN PROJECT MANAGEMENT INTRODUCTION

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The article discusses the imperative of effective risk management in project management due to demands for higher quality, reduced time, and costs. It highlights the proliferation of risk management models and techniques but stresses the need for clarity on their appropriate application. Theoretical frameworks for categorizing risk techniques based on risk management process phase, project life cycle stage, and corporate risk maturity are proposed. The analysis illustrates how risks affect project constraints and the importance of comprehensive risk management. The discussion delves into iterative risk identification processes and qualitative and quantitative risk analyses. Risk and Opportunity Response Planning are outlined, stressing their role in addressing identified risks. Finally, the study concludes by underscoring the indispensable role of risk management in project success, its contribution to informed decision-making, stakeholder confidence, and project resilience.

AUTHORS

K.Karimov

Graduate School of Business and Entrepreneurship under the Cabinet of Ministers of the Republic of Uzbekistan

Tags

# project management# risk analysis# Risk management# risk identification# risk mitigation# project constraints# project success# triple constraint model

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Article Identifiers

ROI:

https://eroi.uz/11.0096/A0324-0008

DOI:

Not Available

References

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