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In this video you will learn Why Is It Important to Have a Risk Management Strategy? What are the Key Principles of Risk Management? Words of Wisdom After completing three projects successfully, the behaviour of a project manager cannot be normal. A risk management strategy specifies how the project team will assess and minimise possible project risks. The success of a project depends on how well it is planned and managed. Practising project management and applying time-tested mitigation measures may be beneficial. Even highly developed projects, however, will contain risks. The greatest strategy to avoid project risks is to confront them straight on. Proactively preparing for these unknown occurrences with the assistance of a risk management strategy will assist you in steering your project team towards calm seas rather than being caught in the thick of an unanticipated storm. You may have experienced the effects of unforeseen risks on previous projects if you have never built a r