What is the primary goal of project risk management?

The primary goal of project risk management is to identify, analyze, and respond to project risks. This process is crucial because it enables project managers and teams to understand potential issues that may arise during the lifecycle of a project. By identifying risks early, the project team can assess their potential impact and likelihood, allowing for appropriate strategies to mitigate or manage those risks effectively.

This proactive approach not only helps to minimize the negative effects that risks may have on project objectives, such as timelines, costs, and quality, but it also aids in optimizing opportunities that may arise from certain risks. By focusing on identification, analysis, and response, project risk management aims to enhance the likelihood of project success and ensure that the project stays on track despite uncertainties that may emerge.