Chapter 4: Project Risk Management SystemsInitial Postings: Read and reflect on the assigned readings for the week. Then post what you thought was the most important concept(s), method(s),

Chapter 4: Project Risk Management SystemsInitial Postings: Read and reflect on the assigned readings for the week. Then post what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding in each assigned textbook chapter.Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion.Also, provide a graduate-level response to each of the following questions:

1. Explain each of the following steps in risk evaluation and remediation.
   • Risk identification
   • Risk evaluation for chance of occurrence
   • Risk evaluation for impact if the risk takes place.
   • The four types of risk remediation,
   • What is a project risk owner,
   • What is a risk threshold.
   • What is a risk matrix.

Text

Title: Managing Project Risks 

ISBN: 9781119489733 

Authors: Peter J. Edwards, Paulo Vaz Serra, Michael Edwards 

Publisher: John Wiley & Sons 

Publication Date: 2019-08-13