Project Risks and Mitigation is the process of identifying potential risks in a project, assessing the likelihood and impact of these risks and taking steps to avoid or mitigate their effects. Risk management helps ensure that projects are completed on time, within budget and with the desired results. It involves anticipating potential problems at each stage of the project and developing strategies for dealing with them, such as avoiding the risk if possible, mitigating or reducing its effect or transferring the risk to someone else. Ultimately, risk management can help you to realize your project goals and objectives more effectively and efficiently.