As seasoned project managers, we are very familiar with identifying and managing risks (though too often, the activity stops with identifying and we “wing it” from there).  I’ve written here on CERM Insights and elsewhere about assigning a weighted grade to risks based on the likelihood of the risk becoming an issue and the impact to your project should that happen.  From there you manage the higher graded risks more closely as they embody the possibility of causing the most damage to your project and hindering the success.

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