ABSTRACT
In project management there are a number of issues that can be addressed when considering risk. For risks that are high impact and high probability, options are likely to be expensive so they will need to be budgeted for. For high impact and low probability risks, ensure that the right controls are in place to give early warning that the risk is likely to occur. Climbers are constantly developing stronger and more efficient carabiners to catch them should they fall, thereby reducing the risk of injury or death. Sub-aqua divers have developed sophisticated procedures that are drilled into novices in order to reduce the risks of misunderstood communications. Having identified what the risks are and how likely they are to occur decide what to do about them. It is possible to insure against most occurrences but there is a point where the cost of cover outweighs its benefits.
