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Risks versus issues

Explain the difference between risks and issues. Discuss an experience when you encountered a risk or an issue and how you solved them

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There are many times when both the words "risk" and "issue" are used to describe the same thing however, they are different. "PMBOK defines a risk as an uncertain event or condition that, if it occurs, has a positive or a negative effect on project's objectives" (Farragut, 2011, para 2). The main element of a risk is that, if it were to occur, it would have a large impact on a project's schedule, budget or resources. For example, if there is a risk of losing several project team members due to company layoffs or other unforeseeable circumstances, there would be a significant impact on the project's schedule and budget due to ...

Solution Summary

A discussion regarding the main differences between what designates a risk and what designates an issue in project management including a personal account of how to handle both. 377 words, 1 reference.