6 Effective Risk Management Techniques for Project Managers!

Risk management techniques can assist in dealing with uncertainty

Here are 6 risk management techniques that project managers can use when creating and conducting a project:

1. Time Tracking Time tracking is used to monitor progress and ensure that projects are completed on time

2. Resource Management It helps in determining whether the team is capable of tackling new or unexpected tasks

3. Root Cause Analysis It helps address the cause of a problem instead of focusing on its symptoms

4. SWOT Analysis SWOT analysis allows to evaluate a project's strengths, weaknesses, opportunities, and threats

5. Budget Tracking You can use this tool to assess how successfully your team stays to budget

6. Reserve Analysis It enables project managers to determine how much money they should set aside as a contingency prior to the start of the project