When you engage in risk mitigation, you need project risk management strategies in place so you can maintain your information security while growing your network and your business. After all, when you take on a new project, you need to reduce potential project risk.
What is project risk? It’s when the project’s stakeholders are exposed to consequences in the project’s possible outcomes. Project risk is influenced by factors in your control and factors outside it. Ultimately, to mitigate and reduce project risk, you can plan for as many project outcomes as possible, but you also have to consider explicit vs. implicit risk. Explicit risks are risks related to specific events and components during the project’s implementation, deployment, and operation. Implicit risks are less obvious risks that are built into the project’s structure and scope. If you identify both types of project risks before you begin the project, your IT network and business operations will be safer in the long run.