A term used to refer to a broad complex of sometimes interrelated project event s detrimental to project success . The likelihood of such event s is difficult if not impossible to forecast with any degree of certainty . Those factor s that may cause a failure to meet the project 's objectives . Risks may also be associated with opportunities . Risk is the product of the probability of an event occurring time s its impact if it did.
Risks exist as a consequence of uncertainty .
The extent and content s of a project . Also the goal s of a project . The Scope of Work is the extent of work required to produce the project s deliverables and is related to but not synonymous with the description of those deliverables . Project Scope A concise and accurate description of the end product s or deliverables to be expected from the project and that meet specified requirements as agreed between the Project s Stakeholders . Project Scope Management A subset of project management that includes initiation , scope planning , scope definition , scope verification and scope change control in an effort to ensure that the project has all of the necessary work required to complete it.