Risk Management: Definition, Importance, & Types

November 22nd, 2022 by inflectra

Unfortunately, all projects and undertakings involve some amount of uncertainty or risk. Whether it’s minuscule or highly likely, the consequences of risk can end up being costly on a number of levels — and when you’re unprepared, these consequences can be catastrophic. But what does risk management actually mean, why is it so crucial to a quality product, and how can you ensure that yours is strong?