Hello friends, I hope you all are doing great. In today's tutorial, we will have a look at Engineering Risk Management in detail. Risk management is a process used by companies to identify and avoid potential costs, schedule as well as technical/performance risks to a system. Once that is done, a proactive and structured approach is taken to be able to manage the number of negative impacts it may have to a company, respond immediately upon their occurrence and identify potential causes as to why such a thing happened.
In other words, risk management involves minimizing potential risks before they occur throughout the life of a project or a product. And it’s not a one-time process, it involves a continuous approach to anticipating and averting an e ...
