METHODS OF PROJECT RISK MANAGEMENT

Abstract

Abstract. This article describes the methods of project risk management. The relevance of this topic is that any
project, whether it is social, commercial or innovative, all of them are subject to risk. The main purpose of project risk
management is to minimize the degree of risk, achieve a positive result.The risks identified during the implementation
of the project can be managed, that is, using various methods of risk management, it is possible to predict in advance
the onset of a risk event, to determine the extent of the damage and to use methods to reduce their extent.
To achieve this goal, it is necessary to conduct a risk analysis and select the necessary risk management methods.
Risk analysis is the most important stage in the analysis of the project and is divided into qualitative and quantitative. A
qualitative risk analysis is to identify all project risks, to classify them, and to determine the consequences. Quantitative
risk analysis is to determine the degree of project risks. There are a lot of risk management methods, but it is necessary
to choose the correct methods depending on the type of risk.
The article reveals the methodology of the expert risk analysis, a method of constructing a decision tree and methodology
for identification and assessment of project risks. Each method has advantages and disadvantages.