Project Risk Management: Methodological Guidance

Lilyana Stankova

Abstract


The paper offers methodological guidance for efficient project risk management. To that end, the essence of the terms “uncertainty”, “risk” and “project risk” is firstly explained; a review of the concepts and models of project risk assessment, existing in the specialized literature, is developed; the most popular and frequently used quantitative and qualitative methods for project risk assessment are presented in brief; the different elements of the project risk management process are presented in details. The thesis that project risk cannot be fully eliminated is sustained. Yet, through purposeful and continuous actions, it could be forecasted and managed.

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ISSN 1313-4787 (Print)
ISSN 2367-5403(Online)