What is programme or project risk?

Programme or project risk refers to potential events or conditions that may have a negative impact on the achievement of a project's or programme's objectives. These risks could affect scope, cost, schedule, or quality of the project or programme.

Risks can arise from various sources, including uncertainty in project requirements, technological complexity, resource availability, stakeholder conflicts, or external factors such as regulatory changes or market volatility. Effective risk management is critical in both project and programme management to anticipate, mitigate, and respond to these risks.