Risk management is the formal process of continuously identifying and assessing risk in an effort to reduce the impact of threats and vulnerabilities.

You cannot eliminate risk completely but you can determine acceptable levels by weighing up the impact of a threat with the cost of implementing controls to mitigate it. The cost of a control should never be more than the value of the asset you are protecting.

You are important, love yourself

One of the most important activities that a project manager can carry out is dealing with stakeholders.

‘Stakeholder’ is the term used in most instances to refer to individuals or groups who have an interest or role in the project, programme or portfolio, or are impacted by it (APM, 2019). They are those who have a stake or an interest in a project or strategy undertaken by a company or an organisation.

Stakeholders can be project team members, sponsors, or people who are not directly involved in delivering the project but have an interest in it.

Some of the typical key project stakeholders you will find in a project may include:
- Customers
- Project manager
- Project team members
- Project sponsor
- Steering committee
- Executives
- Resource managers
- Sellers/suppliers
- Contractors
- Government agencies,
- Media outlets

You can identify stakeholders and analyse how far they may help or hinder a project by creating a stakeholder map, carrying out stakeholder analysis, and monitoring their activities throughout the course of a project.

Stakeholders have the power to make or break the project. Even if all deliverables are in and budgets are met, if the stakeholders aren't happy, the project can not be considered a success which is why it is essential to identify all stakeholders and classify them according to their interest and power that they can have in the project, practice good stakeholder analysis, management and to continuously communicate and collaborate with them throughout the life cycle of a project.

Even if we haven't achieved all we set to achieve yet, we still have something to be grateful for always
#Gratefulheart

Developing communication skills

Is another beautiful week to achieve great things.