7 Assessing and Mitigating Risk

A risk assessment and mitigation is an important step in protecting your project and its deliverables, as well as complying with standard operating procedures (SOP) and legal requirements. It helps project managers focus on the risks that really matter in their projects, those with the potential to cause harm or losses. Often, straightforward measures can readily control risks; such as in the case of ensuring spillages are cleaned up promptly so people do not slip. For most, that means simple, cheap and effective measures to ensure your most valuable asset, your project, is protected.