Throughout this Course, you will see many exercises. These have been developed based on
accelerated learning theory and an understanding of difficult topics in risk management.
It is important to make sure you do these exercises, rather than jumping right to the
answers. Do not skip them, even if their value is not evident to you. The exercises and
activities are key benefits of this book, whether your goal is to pass an exam or simply to
improve your project management abilities.
Each chapter is concluded by a chapter review. This review includes key concepts, key
terms, a matching game, and questions for discussion. Make sure you can honestly say
that you understand each of the key concepts and know each of the key terms. If not,
go back and reread the chapter. Then play the matching game to make sure you are
comfortable with these concepts. Lastly try to complete the questions for discussion.
Risk management involves minimizing the consequences of adverse events as well as
maximizing the results of positive events. Therefore, risks can be good or bad events,
referred to in this book as opportunities or threats.
It is essential that potential good events (opportunities)
are included in risk management. Such identification
allows the team to take advantage of opportunities
presented by the project. The things that go right
(cheaper parts, an activity completed faster than
scheduled) are what give you an edge over the things
that go wrong.