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Example of risk management : A NASA model showing areas at high risk from impact for the International Space Station. Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives , whether positive or negative) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events [ 1 ] or to maximize the realization of opportunities. Risks can come from uncertainty in financial markets, project failures (at any phase in design, development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attack from an adversary, or events of uncertain or unpredictable root-cause .
PERT network chart for a seven-month project with five milestones (10 through 50) and six activities (A through F). The Program (or Project ) Evaluation and Review Technique , commonly abbreviated PERT , is a statistical tool, used in project management , that is designed to analyze and represent the tasks involved in completing a given project . First developed by the United States Navy in the 1950s, it is commonly used in conjunction with the critical path method ( CPM ). [ edit ] History Program Evaluation and Review Technique The Navy's Special Projects Office, charged with developing the Polaris-Submarine weapon system and the Fleet Ballistic Missile capability , has developed a statistical technique for measuring and forecasting progress in research and development programs.
Exemption from the ban on sailing into, out of or through if there is an A.1 sign (annex 7) Inland Waterways Police Regulations The Harbour Master of Rotterdam,