In unstable times, the need to recognize and manage risk is more important that ever before. Although all risk cannot be avoided, the implementation of Enterprise Risk Management can limit an organization’s exposure to risk and help it to anticipate uncertainty, make better decisions and fulfil objectives.

Risk is the uncertainty of outcome, positive opportunity or negative threat, of activities and events.

Project risk is defined as any area of concern that could prevent a project from achieving any or all of its objective and outputs/benefits. It is the result of the combination of impact and probability, including perceived importance.

Project and programme management units are encouraged to adopt risk management procedures and practices in order to increase the likelihood of achievement of the project/programme objectives.

The attached PowerPoint presentation provides background information and simple methodology which may be adapted to specific country and/or project circumstances.