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What is the MSF risk management process?Every project has a huge number of potential unknowns which can act as barriers to the project. These can be termed as risks. Once a risk has occurred, it's no longer a risk but needs mitigation and a management plan.
Risks are often assessed once in the initial planning phase and often forgotten. Contrary to this, risk management is and should be an ongoing process throughout the project. An effective approach is to assess risks continuously in use the information throughout the project.
Major risk management approaches include reactive and proactive risk management. Reactive risk management suggests, project members attend and react to the results of the occurrence of a risk as they occur. Proactive risk management on the contrary is all about having a proper managed process for handling risks proactively and managing them iteratively. The proactive risk management process has the following steps: Risk Identification, Risk analysis, Risk Action planning, Risk tracking, and Risk control.
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