Risk management is an integral part of project management. It involves looking at all the possible risks that could occur and developing plans to minimize them. It’s about identifying, analyzing, evaluating, and controlling those risks so that a project can be successfully completed. By assessing risk early on in the process, you can ensure that potential problems are addressed quickly and efficiently. It also helps keep projects running smoothly, as it reduces unexpected delays or costly surprises due to unforeseen circumstances. Good risk management ensures that budgets are kept within parameters and goals are achieved on time.