Advertisement
Published in:
2008 | OriginalPaper | Chapter
Project Risk Management
Activate our intelligent search to find suitable subject content or patents.
Select sections of text to find matching patents with Artificial Intelligence. powered by
Select sections of text to find additional relevant content using AI-assisted search. powered by
The risk and the possibility of suffering damage arising from circumstances that are more or less foreseeable.
The profit and loss account is one of the fundamental elements that determine the result of the job order; this means that the PM needs to know the details to calculate it and, during the job order process, must be able to foresee any corrective actions that may be needed to stay within the budget or improve the result itself. This is not really management of the profit and loss account but of the activities and phases that determine its result.
Consequently, the PM must be aware of the economic impact on the product line, caused by correct management of the job order; therefore, meetings are held periodically to define the general progress of the product line and the various business units to be able to set priorities and take general action.