Risks
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What are some examples of internal risks versus external risks? How does risk change during a project's life cycle?
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Solution Summary
Businessdicitionary.com defines risk as "a probability or threat of a damage, injury, liability, loss, or other negative occurrence that is caused by external or internal vulnerabilities, and that may be neutralized through preemptive action." To further define internal and external risks, the author of this page provides examples that compare and contrast their differences.
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Theft can be both an internal and external risk for construction projects; especially if you are paying your workers low wages and the materials that they are working with are highly valued. Likewise, if you are working on a project in a questionable neighborhood and you don't have any way of protecting your materials outside of the use of chains, a pad lock, a ...
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