States human progress demands risk‐taking but, conversely, managing risk in projects is always critical to success. Proposes that managers must make project risk management explicit and make identification of risks a priority. Recommends that contingency plans for low impact, high probability risks such as ‘Website designer delivers late’, but stresses controls must be put in place to allow for an early warning. Aims to encourage a robust and balanced appreciation of the trade‐off between risks and the reduction of them. Uses Figures and shaded boxes for explanation and further emphasis.
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