18Aug 2017

IS RISK MANAGEMENT A REACTIVE CRISIS MANAGEMENT OR PROACTIVE RISK CONTROL MANAGEMENT THAT IS MOST ESSENTIAL FOR SUCCESSFUL PROJECTS?

  • Research Scholar, Rayalaseema University, Kurnool, A.P, India.
  • Department of Computer Science, Krishna University, Machilipatnam, A.P, India.
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Project risks results in negative outcome. On contrary opportunities have positive impact on project success? Hence risks are to be identified, prioritized, mitigated and or transferred to third party. Risk Management is highly essential during the project life cycle for successful project management. Proactive risk management is key to the success. Poor risk management results in time, and Cost overruns and poor quality. Risk management needs to be integrated in every phase of the life cycle with adaptive control to suit the situation. Risk events are characterized with the probability ranging from 0 to 1. Risk management is proactive management in successfully managing projects where as reactive approach may result in total project failures or reduction in degree of success.

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[Panyam Babu Veera Prasad and Kiran Kumar Reddi. (2017); IS RISK MANAGEMENT A REACTIVE CRISIS MANAGEMENT OR PROACTIVE RISK CONTROL MANAGEMENT THAT IS MOST ESSENTIAL FOR SUCCESSFUL PROJECTS? Int. J. of Adv. Res. 5 (Aug). 1080-1092] (ISSN 2320-5407). www.journalijar.com

P.B.V. PRASAD
Research Scholar, Rayalaseema University

DOI:

Article DOI: 10.21474/IJAR01/5159      
DOI URL: https://dx.doi.org/10.21474/IJAR01/5159

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