Risk management is the identification, analyzation, and the management of uncertainties within a project.It involves both opportunities(positives), threats(negatives) and embracing the use of available resources, resource allotment, and contigeny planning. The pros of risk management are very instrumental in determining the success of the project.Catastrophes within a project can eliminated by a great percentage by combining an active management project program and proactively solving its uncertainties.The following are the protocols aimed at developing an efficient risk management program;
1.Identifying the risk(Embed risk management.)
2.Determining the risks related to the emerged hazards.
3.Assessing the risks and Assigning a person to take accountability for the risk.
4.Managing the threat using the 'Hierarchy of control' strategy,Prioritizing and estimate the risk.
5.Registering the plan by going through that risk and analyzing it.
6.Taking Control, managing and reviewing the results.
Hazard identification involves Embedding the risk management as a crucial part in the project to ensure demonstrable advantages are gained and