How to reduce Project Risk

تحديد المخاطر المحتملة الي تاثر على المشروع ووضع خطوات هامة لردها وحل مناسب لها للخروج باقل الخسائر

Swot , (strengths , weakness , opportunity , threats) , I think this four items can manage the projects risks and help to get good decision .

Identifying risk in early stage in the project with plan the response to every risk could reduce risk impact also reserve a budget for risk could be effective with taking in our consideration that is not all risk are bad thing(threats) 

I understood the question as how to reduce the possible risks for a future project not as managing the risks for a running project.
In that sense, there are some steps to take:
1- Consult the experts in the field (management, technical, subcontractors,...) to consolidate the possible risks and formulate the project plan accordingly.
2- Refer to company's database (older projects, projects highlights, older risk logs, etc...) to know the possible risks and how to overcome them with minimum impact on project.
3- If this is a new type of projects for the company & if the project budget allows, you can seek this service from a professional consultant.

Your project plan should include a project risk strategy.
The project risk strategy will contain enough information of all the risk identified, but generally speaking, there exist four main risk management strategies that you can align with your project: a) avoidance of any risk that is not significantly inherent to the project b)reduce risk exposures by increasing compliance to control measures c)transfer those risk that you cannot control by insuring against them eg.
fire d)be fully prepared to take those risk that are inherent to the project These risk strategies will reduce the impact of any threat to your project

Project risks usually occur due to overlooking of a project's constrains.

 

Effective scope, time, quality, stakeholder management, with special focus in Planning and Execution phases can reduce project risks, or can certianly allow risk identification in time.

من افضل الطرق لتقليل مخاطر المشروع هي ان يتم تنفيذ المشروع في اسرع وقت ممكن وبجودة ممتازة

By being able to spot that risk and incorporate its mitigation in the project plan. Spoting the risk requires experience and team work.

PDCA or doming wheel is one of the most important methode for reduce project risk, The PDCA Cycle is a checklist of the four stages which you must go through to get from `problem-faced' to `problem solved'.
The four stages are Plan-Do-Check-Act, Plan to improve your operations first by finding out what things are going wrong (that is identify the problems faced), and come up with ideas for solving these problems.
Do changes designed to solve the problems on a small or experimental scale first.
This minimises disruption to routine activity while testing whether the changes will work or not.
Check whether the small scale or experimental changes are achieving the desired result or not.
Also, continuously Check nominated key activities (regardless of any experimentation going on) to ensure that you know what the quality of the output is at all times to identify any new problems when they crop up.
Act to implement changes on a larger scale if the experiment is successful.
This means making the changes a routine part of your activity.
Also Act to involve other persons (other departments, suppliers, or customers) affected by the changes and whose cooperation you need to implement them on a larger scale, or those who may simply benefit from what you have learned (you may, of course, already have involved these people in the Do or trial stage).

Identify risks and constraints with the introduction of alternative scheme depends on reducing the length of time with doing several tasks at the same time (fast track)

Keeping in view all the Factors i.e

Behavoir of the Controlling Authorities/ Govt Bodies.

Local Envoirnment for mobilization and stocking of material.

Density of services / utilities.

Etc......

Keeping all such factors and above all the Experiance Provide a provision of Contingencies / Unfore seen in the Estimate will reduce the Risk.