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INTRODUCTION
The practice standards of Project Management Institute (PMI) are guides that help to use the
tools, techniques, or processes identified in the Practice Standard for Project Risk Management.
Chapter 11 of the PMBOK Guide Fourth Edition, is the basis for the Practice Standard for
Project Risk Management.
It is a standard, recognized as good practices, for project management practitioners and other
stakeholders.
Project Risk is an uncertain event or condition that, if it occurs, has a positive or negative effect
on a projects objectives.
Project management processes should include the possibility of project risks in the project plan.