Project risks should be People who would participate in the project must actively participate in the project planning and analysis process. When managing a risk that has already been suffered or whose occurrence is very eminent, the project manager should ensure that specified responses are used in order to reduce the magnitude of loss likely to be suffered.
To begin with, risk simulation should begin by addressing the likely areas or loopholes that could easily expose the entire project process to very serious dangers. This could be done through constant communication across all levels of the project team and free exchange of the team members’ views. This would enable the project team to fully identify the project risk-prone areas that would demand agent attention from those that would be addressed later on.
Secondly, brainstorming among the project team members would be vital in ensuring that all views from the members and the project stakeholders are collected, sampled and the best solution to deal with the risk at hand employed. This is mainly because the usage of simulation in addressing a project risk would help illustrate the visual display of the actual project objectives and the relevant processes virtually yet very realistically.
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