What is a key responsibility of project managers in risk management?

A key responsibility of project managers in risk management is to assess, monitor risks, and take necessary actions. This involves identifying potential risks that could affect the project, evaluating their likelihood and impact, and implementing strategies to mitigate them. Effective risk management requires ongoing monitoring throughout the project's lifecycle, ensuring that any new risks are identified and addressed promptly.

Project managers must also involve their teams in discussions about risks to gather diverse insights and encourage a proactive culture regarding risk. This is essential because the success of a project often hinges on how well these risks are understood and managed. By taking necessary actions, project managers can safeguard project objectives and ensure that their teams are prepared to handle unexpected challenges.