Why are they important and necessary for the effective managing of project risk?

Prepare an explanation to the following questions using at least 300 words in your post

Q1. Using Chapter 10 of the Kendrick text explain the key elements of managing project risk. Why are they important and necessary for the effective managing of project risk?

 

Q2. Using Chapter 11 of the Kendrick text explain the key elements associated with monitoring and controlling risk. Why are these elements important for the proper monitoring and controlling of risks within a project?