Risk management can be defined as a number of procedures and actions that allow managers to identify, assess, monitor and address risks before they transform into problems. It is desirable to identify risks as early as possible and certainly before they become problematic. When the risk is identified, it is necessary to make a decision about the outcome. The task of the project manager is to choose actions that will reduce the likelihood of an adverse event or mitigate its consequences in case of risk implementation. It is desirable that the flow of resources is minimal. The most commonly used strategy for dealing with risk consists of the following steps:

• 1. Avoid risk. Reorganize the project so that it does not depend on the event.
• 2. Forward the risk. If a risk shows, the customer has to agree to pay for extra work. If implemented, a risk management company should bring more employees to the project.
• 3. Accept the presence of risk. This does not mean that it should be ignored, and the company can just wait passively for the implementation of risk. The company can take actions to reduce the likelihood of risk manifestations, or develop a plan of alternative actions, which will be performed if the risk is realized.

Risk Management is a straightforward and manageable process. There should not be any substantial problems with its implementation. However, unfortunately, it is impossible to say that this concept has been introduced everywhere.

If a common developer or a manager is asked why their company does not have a risk management process, they can give a lot of different responses. Some will be extremely simple: “We do not have risks,” others will be more sophisticated: “We are dealing with the problems as they arise,” “Our task – to develop the program, and not fill in bureaucratic forms” and so on. The real cause of dislike for risk management often lies in the following. First of all, the company is afraid to move away from the traditional position of “we’ll make it”. Risk management implies that there may be a failure. Then there is a following reason: risk management is often considered to be a way to justify the future defeat. Project managers are often too afraid of risk management. They believe that if the pre-identified risk is realized, it will be seen as their fault. However, this situation usually helps demonstrate how they managed to reduce the potential consequences of the risk through preventive measures.