Abstract:

This research explores the crucial role of risk management in enhancing project success amid prevalent project failures linked to inadequate risk practices. In today’s complex project environments, organizations face uncertainties that can derail objectives and hinder performance. Despite a focus on effective project management methodologies, many projects still fall short of meeting their goals due to overlooked risks and insufficient assessment processes. This study aims to identify common risks affecting project success across sectors and evaluate current risk management practices among project managers. By employing both quantitative and qualitative methods, this study highlights significant gaps in existing practices and proposes a comprehensive framework for integrating risk management throughout the project lifecycle. The research findings provide actionable insights and practical recommendations to improve project outcomes and advance the field of project management by enhancing understanding of effective risk management strategies.

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