Evaluating Project Risks and Mitigation Strategies

In this discussion, please address the following:

Discuss the reasons as well as the advantages and disadvantages on why a project manager creates and manages a project risk matrix.
Do you believe it is possible to eliminate all risk from a project? Explain your reasoning.
Discuss the advantages of using quantitative risk assessment tool.

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A risk matrix is a tool used by project managers to determine the different risks that might face the project and to give different solutions to the expected risks. Project managers often use the risk matrixes as a security measure which ensures that the project is able to counteract the risks that it faces. The advantages of risk matrixes include the presentation of risk data in a visual manner which enables individuals to understand the risk they face.

The visual representation is easy to understand and precise in nature. The matrix also enables the managers to give priority…..

APA

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