APPLYING RISK MANAGEMENTAPPROACH FOR PROJECT SUCCESS

Abstract

In times of increased competition and globalization, project success becomes even more critical to business performance, and yet many projects still suffer delays, overruns, and even failure. Ironically, however, risk management tools and techniques, which have been developed to improve project success, are used too little.This paper is all about to provide an insight on how Risk Management can be applied in projects to improve its success rate or minimize the failures in any kind of function or industry for that matter.