What type of risks do organizations need to prioritize during project management?

Organizations need to prioritize manageable risks during project management because these are risks that can be identified, assessed, and mitigated effectively. By focusing on manageable risks, project managers can implement strategies to minimize their impact on project objectives, ensure project success, and safeguard resources. Removable risks are also considered as they can often be eliminated or substantially reduced, allowing teams to concentrate on maintaining project momentum and achieving desired outcomes.

In contrast, focusing on high risk and unmanageable risks can lead to resource wastage and distraction from more impactful issues. Insignificant risks do not usually require prioritization as their potential impact on the project outcomes is minimal. Similarly, low probability risks, while important to be aware of, do not generally warrant the same level of attention as manageable risks, since their likelihood of occurrence is low. Prioritizing manageable risks allows organizations to allocate their resources efficiently and address potential challenges proactively.