What is a risk in consulting? How can you identify a risk? Whose responsibility is the risk? Managing risks is one of the central functions of a management consulting team - who are responsible for ensuring a consulting project delivers on time to its objectives. This video is part 1 of 2 on how to manage and mitigate risks. It covers what a risk is, using some examples. It talks about when risks are likely to occur, and how to spot them. And it finishes by explaining what you should do with a risk you have identified. Risk management is one of the most important things you'll learn to do in your management consulting career.

Part 2 covers how to raise a risk, how risks are mitigated, and how risks are ultimately closed out. Go to part 2 here: https://youtu.be/O11nWQ1tdX4

00:00 Channel Intro
00:30 Context
01:09 What is a Risk
04:10 How to Identify a Risk
05:25 Whose Responsibility a Risk is

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