The management of risk is proving to be one of the most difficult tasks for the project management profession. How can risk be managed effectively and who should be responsible for this task? You are required to critically analyse the concept of risk; discuss how it can be measured and ranked and outline how a project risk management stratew may be constructed for a project of your own conception. In completing this assignment, you should address how appropriate practices can assist in minimising risk for your project. Marking Scheme