Large projects are large-scale, wide-range, and at great position in national economy application. The need for risk management decision support system is valuable and essential. The risk can be inherited by follow-up stages, and the mistakes and uncertainty in financial markets, project failures, legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attacks from an adversary. Risk management is the identification, assessment, and prioritization of followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events. This article also shows how to determine the risk factors in all the engineering process, minimize the risk and study for manage more effectively, identify opportunities for continuous improvement, and maximize the realization of opportunities.
Cite this article:
Deepti Verma, Deepika Chandrawanshi. Large Scale Project Management “Risk Management”. Research J. Engineering and Tech. 2(1): Jan.-Mar. 2011 page 48-51.