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About Risk Management The purpose of this process area is to identify potential problems before they occur so that risk-handling activities can be planned and invoked as needed across the life of the product or project to mitigate adverse impacts on achieving objectives. Prepare for managing risks by determining risk sources and categories, defining risk parameters, and establishing a risk management strategy. Identify, evaluate, categorize, and prioritize risks. Plan and implement the risk mitigation. Prepare for Risk Management Identify and Analyze Risks Mitigate Risks
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