"The goal of project risk management is to increase the probability and (or) impact of positive risks and reduce the probability and (or) impact of negative risks, thereby increasing the probability of project success."
The core concept of project risk management
"Project risk management aims to identify and manage risks not managed by other project management processes."
"Every project has risks on two levels. Every project has a single risk that affects the achievement of the project's goals, as well as the overall project risk caused by the combination of individual project risks and other sources of uncertainty."
- A single project risk is an uncertain event or condition that, once it occurs, will have a positive or negative impact on one or more project goals.
- The overall project risk is the impact of uncertainty on the overall project, and is the interval between positive and negative variations of the project results faced by related parties. It stems from all uncertainties including individual risks.
"Project risk management aims to use or strengthen positive risks (opportunities) and avoid or mitigate negative risks (threats)."