This is an update and expansion upon PMI’s popular reference, The Practice Standard for Project Risk Management.

Risk Management addresses the fact that certain events or conditions may occur with impacts on project, program, and portfolio objectives.

This standard will: identify the core principles for risk management; describe the fundamentals of risk management and the environment within which it is carried out; define the risk management life cycle; and apply risk management principles to the portfolio, program, and project domains within the context of an enterprise risk management approach It is primarily written for portfolio, program, and project managers, but is a useful tool for leaders and business consumers of risk management, and other stakeholders.