Risk management are the processes connected with identification, risk analysis and decision making which include maximizing positive and minimization of negative consequences of approach of risk events. Risk management process of the project usually includes accomplishment of the following procedures:
1. Risk management planning - the choice of approaches and planning of activities for project risk management.
2. Identification of risks - risk identification, capable to influence the project, and documenting of their characteristics.
3. Quality standard of risks - qualitative risk analysis and conditions of their emergence for the purpose of determination of their influence on success of the project.
4. Quantitative assessment - quantitative analysis of probability of emergence and influence of consequences of risks on the project.
5. Planning of response to risks - determination of procedures and methods on weakening of negative consequences of risk events and use of possible benefits.
6. Monitoring and risk control - monitoring of risks, determination of the remaining risks, accomplishment of the risk management plan of the project and efficiency evaluation of actions for risk minimization.
All these procedures interact with each other and also with other procedures. Each procedure is performed, at least, once in each project. In spite of the fact that we consider introduced as discrete elements with accurately certain characteristics here, in practice they can partially coincide and interact.
It is necessary to pass in risk management to integrated approach in which means and methods are shared at all enterprise, and in company management there is well thought over strategy. Integrated approach is an active position as means anticipation, but not a passive risk response, such approach gives more opportunities and limits dangers.