Analyze the following case:

Suppose you are a project manager and you have been assigned a project that involves migrating a database and applications from one server to a larger server. This database is very important to the company, as it contains confidential information. During the development of the project risk plan, you found a risk that would result in data loss during the database migration process. The project team assigned a low probability of occurrence to this risk.

With this scenario in mind, briefly argue in the forum:

• Would you consider this risk to have a low probability of occurrence in the project risk plan?

When stating your answer in the forum you should:

• Define and describe the concept of project risk management, according to the PMBook. Include the processes required for project risk management to take place.
• Explain how project risk management helps to foresee or mitigate risks in a project.