From the perspective of project risk assessment; present and discuss your opinion on why they occurred

From the perspective of project risk assessment, present and discuss your opinion on why they occurred.

Risk Assessment in a project is the most difficult phase of all to carry out. From the definition, a risk is a combination of uncertainty and constraint. Constraints are usually difficult to remove, though they are important to understand. For instance, a constraint that the project must be finished in time to reflect a new piece of legislation is easy to understand. Manpower constraints are often more uncertain, such as the availability of skilled staff at the critical phase of the project.

Project risk assessment is required in order for the company or department of any organization to identify all possible risk that might occur for the project and apply appropriate methods to estimate the likelihood that a hazard occurs, and the uncertainty in that estimate. Then, they would be able to come up with alternative solutions that outline immediate actions or procedures to control or reduce the risk. Afterwards, they can estimate the effectiveness of those solutions and provide the result to base a risk management decision.