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Project Management vocabulary · Risks & Issues

Risk

Meaning in project management, with examples

/rɪsk/nounCore term

In project management, risk means: An uncertain event that has not happened yet but could affect the project's time, cost, quality or scope if it does.

In Turkish: risk

How it is used

Project managers identify, assess, log, mitigate and monitor risks. Each risk is usually given a probability, an impact and an owner, and kept in a risk register. Some risks are positive and are called opportunities.

Example sentences

  1. There's a risk that the new server won't arrive before the go-live date.

  2. I've added the supplier's financial problems to the risk register as a high risk.

Common collocations

  • identify a risk
  • raise a risk
  • high risk
  • risk owner
  • risk assessment
  • issueA problem that is already happening and affects the project, so someone needs to take action to solve it.
  • risk registerA document or table that lists a project's risks, with details such as their likelihood, impact, owner and the actions planned to deal with them.
  • mitigateTo take action that makes a risk less likely to happen, or makes its effect smaller if it does happen.
  • contingencyExtra money or time added to a project plan to cover known risks and unexpected problems.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Risks & Issues

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