Why is Risk Identification so Important in Project Management?

as response to this post 75 words if you cite then also use reference

Natalia Andino Leon

Hello class,

It is important to identify risk and categorize them for a health care organization start working in a plan to solve it. The level of risk can determinate on how the plan is going to be developed. Identifying risk take several steps. In health care organization, it is important for manager to understand that a risk can affect the final result of a plan, to the budget of the organization.

“The reason that high-risk, critical path (HRCP) projects exist is that they are considered to be important by their supporters and future users. Planning, designing, developing and delivering these projects can be a huge challenge, and opportunity, for project managers able to manage large-scale chaos while moving the team towards successful completion” (Successfully managing high-risk, critical-path projects

It is important that manager take fast action when there is a high-risk that is associated with the path of the project. This is because a critical path has the longest activity that requires a project to be completed in time or before the due date. Detecting a risk on it can prevent that the project take longer than expected and affect the results. This will prevent an organization from having lost and negative results.

1. Why is Risk Identification so Important in Project Management?

2. An Introduction to Critical Path Project Management

3. Successfully managing high-risk, critical-path projects