Project Risk Management

Abstract

Any project is a kind of unique assignment and has something new and unknown that can cause uncertainties and result in losses or earnings. Therefore, Chinese people need to manage all changes and risks of projects and they need to do two main tasks in project risk management. The first task is to reduce the uncertainties of projects through collecting and processing information. The second task is to decrease the losses and increase the earnings caused by project risks. Chinese believe project risk management is the core work and the key to successful projects. Chinese have their own ideas, attitudes and methods for project risk management because of their different history and culture. Chinese trust that only people can really add some values to projects through project change and risk management because certain things of projects are unchangeable and cannot add any more value to projects.