What is the primary function of a risk management framework in tech projects? 🔊
The primary function of a risk management framework in tech projects is to identify, assess, and mitigate potential risks that could impact project success. This framework provides structured processes for analyzing risks, determining their impact, and developing strategies for mitigation or response. By implementing a comprehensive risk management framework, organizations enhance decision-making and project planning, which leads to increased efficiency and reduced uncertainties. It also fosters a culture of proactive risk awareness among team members.
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