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Risk Management

Risk Management and crisis management are completely different. Crisis may or may not happen in a project but risk is an inevitable part in project development. Management of risk is essential because without them it is impossible to impress people. Handling a stable product is normal but the one thing that makes you extra ordinary is managing a project that is unstable and risky.

Risk is taking chances in order to provide a best quality product as assured. Risks should be low but they makes you active. They actually makes you alert.

Risk that has been constantly unnoticed and unaware may result in CRISIS. Then managing which is impossible. Risk and crisis are different entities. The former may be positive or negative in project's scope while the latter is always negative.

Handling of risk is tough and rough. Risk management deals with prediction of all the risks those were involved in the steps and closely monitoring them till it is avoided completely and emptied. Risks are often positive as they makes you to ensure the quality of the product.

On one hand risks are unavoidable. But risks should be properly forecast and the best course of action should be properly defined. This is not a predictable thing.

A leader should be a good planner, because planning the things with both negative and positive scenarios. The positive scenarios are proper project planning.administering and maintaining but the negative scenarios comprise of Situations those are faced during RISK and CRISIS.

There are tools available to predict risk and avoiding them. Risk management has the following steps
1. Risk Assessment:  Finding out the risks that are present in the project with the help of tool or experience
2. Risk Planning : Finding the proper and the best way to avoid risks in project life cycle.
3. Risk Management : Managing or guiding the team in times of risk and making them aware of what they want to do in order to avoid the risk and deliver the successful product.
4. Risk History : Make a note of the way, risk has been planned and the managed and also the way to avoid it.

Managing team makes you manager , But guiding them in times of crisis and risk establishes them as leaders.

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