There are risks associated with any project which, if not managed correctly, can have an adverse impact on its successful outcome. This paper discusses some of the key elements of those risks.
The term project management has been variously described
throughout academic literature (Newton 2006; Barker and Cole
2012; Lock 2012). Lock (2012: 1) describes it as “the
management discipline that plans, organises and controls
people, money and cash so that projects are completed
successfully”. An equally important aspect of the
management process is the need to identify and manage risks
that are likely to occur.