Aspects Regarding Risk Management in Projects

Abstract

The risk management and the risk manager are mandatory elements for a success activity in business and implicitly in projects. Avoiding the risks is a sure way to failure. A higher risk can lead to a higher benefit. « The higher risk is the absence of the risk ». If the risk exists, through risk management it can be controlled, but if the risk is not identified, certainly there are hidden risks which difficult to control. An improper risk management can generate important financial, political and even human losses. It is necessary to implement a risk management system which becomes an important objective both for the project itself and for those involved in realizing it. Even if the risk management is not an easy and cheap activity, the risk should not be considered as a negative element because it can offer extraordinary opportunities for those who know how to valuate it. One of the main objectives of the projects must be the identification of the risk in order to valuate it for the own benefit. Looking behind we can realize that the existence of risks led to the development of risk management structures, if the risk would have been avoided the humanity would not have progressed.