Risk Management road sign (Photo credit: Wikipedia ) So what is a risk ? First understands and identify a risk is most important part of risk management.A risk is a probability of uncertainty associated with executing certain item/task/process/work etc. A risk generates out as soon as we initiates a task. A critical resource in terms of skill set, in a team is a potential risk of leaving the project in between because of unavoidable reasons. So a risk is inevitable, only thing we can do is ; manage and mitigate. Just like handling/catching error in software program . Always plan for the element of risk in project from the start and reiterate control over it for any contingencies. Steps to assess risk: Identify---------->Analyze--------------> Set priority to each risk Steps to control risk: Mitigate------------>Plan for contingency----------> Quantify it and Set a control process Design a Solution process at the team level: Taking help of the ex...