Project Risk and Procurement Assignment 1: This is an individual assignment worth 50% of the module mark. Word length 3000 words (do not exceed word limit). Do not include References in the word count. Submission: Electronically through RKC's Online Campus . Assignment Brief The concept of 'risk' is complex in theoretical terms. It is also complex and complicated, especially in terms of how we are to manage it in projects. How can we define what we mean by 'risk' and how can it be managed successfully in large and small projects? You are required to critically analyse the concept of risk; discuss how it can be measured and ranked and outline how a project risk management strategy may be constructed for a project. In completing this assignment you should discuss both theoretical and practical risk management strategies and how these can assist in minimising risk for your project.