Business:Concepts:Risk [Notes]

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# Business:Concepts:Risk #

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* See also:
  * [[IT/AD/Mnemonics/]]


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A risk is any specific event which might occur and thus have a negative impact on your project or program. 

Each risk will have an associated probability of occurrence along with an impact on your project if it does materialize. 

An example of a risk might be that a change in legislation to tax law could mean you will have to redo some of your project and this will impact the schedule by x and cost y. As project manager it is your responsibility to ensure a Risk Management Process is undertaken, managing and mitigating risks, along with ensuring risks are routinely and effectively communicated with your stakeholders.


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## Resources ##

* [[Resources/Books/Architecture Principles/]]