Project Manager Risk Management is the practice of assessing and identifying risks associated with a project to ensure its successful completion. This involves anticipating potential problems, taking action to reduce their likelihood, and developing strategies for responding to them. By understanding and monitoring the risks posed by a given project, the project manager can take informed decisions on how to handle them – either preventing them from occurring or mitigating their impact. In other words, Project Manager Risk Management is the art of mitigating risk in order to guarantee the success and efficiency of any business endeavor.