Risks are events or actions that, if they occur, have the potential to hinder the progress of a project and impact negatively on a project. Identifying risks to a project, determining the probability or likelihood that the risk will occur, and what impact or consequence the occurred event will have on the outcomes of a project is essential analysis, and is the responsibility of the Project Manager.
Establishing and configuring a risk matrix aids this process. A risk matrix multiplies a risk’s likelihood rank by its consequence rank to produce a risk level. UniPhi allows for these rankings and level to be established and applied to all identified project risks
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