Just exactly what is it we manage on projects if not risks?
Project management IS risk management. The risk-aware manager can show you a substantial list of causal risks. He/she can tell you the likely cost in time or money should the risk materialize, and point to a specific set of materialization indicators and contingency plans to protect the project.
- Tim Lister
Many decisions in the presence of uncertainty - reducible and irreducible - that create risks require you make estimates of the probabilistic and statistical properties of those uncertainties, the risks they create, the probabilities that your handling strategies will be effective.
