Risk management is to increase
the probability and impact of
oppotunities on the Project and
decrease the probability and
impact of negative events.
Threats
Negative events, negative
impacts, usually we focus
on them
Opportunities
Positive events, positive
impact, usually ignore
them
Uncertainty
Risk factors: Probability that a risk event will occur, the
range of possible outcomes, expected timing for it occur in the
Project life cycle, the anticipated frequency of risk events
from that source