A Research Study On Management Of Risk Management

1. Introduction: Project risk management these days is recognized as one of the important process of project management. Latest studies of project management has suggested that more focus should be on study of projects which are intra-alliance or inter-alliance networks. In the field of research about the risk management of project less attention is paid to the risk management in networked projects. The networked projects itself is a big concept, there are large number of people involved in a single network project to run it smoothly, different project participant from various alliance are grouped together to work as a team for a networked project, due to large numbers of people are involved conflicting objectives can be there which can†¦show more content†¦Under Project Management, the processes are steered through five different stages: commencement, planning, implementation, controlling, and finishing. Project management can be worked with almost any sort of project and is broadly used to control the tangled processes of software development projects. The anatomy of knowledge is responsible with tools used in planning, control, principles, monitoring, techniques, and reviewing of projects. (Rouse 2008) 2.2. Risk and its types: A probability of future uncertainty of outcomes and earnings. Any liability, injury, loss, damage, and other negative incident which is reasoned by external or internal susceptibilities, and which can be prevented by taking pre action Risk are of different kinds like finance risk, insurance risk, security risk, workplace risk, sovereign risk. (Times) 2.2.2. Finance: The odds that a confirmed return on an investment will be lesser than the expected return. Financial risk is further divided into the many categories: Sovereign risk, Economic risk, Payment system risk, Exchange rate risk, Capital risk, Refinancing risk, Delivery risk, Country risk, Default risk, Basic risk, Interest rate risk, Liquidity risk, Operations risk, Political risk, underwriting risk, Settlement risk, and Reinvestment risk. 2.2.3. Food industry: The odds that due to any certain circumstances, the goods