The Risk practice is specifically aimed at controlling uncertainties that could impact the achievement of the project’s objectives. In PRINCE2 Agile, risk management involves identifying, assessing, and controlling threats and opportunities to reduce negative impacts and maximize positive outcomes.

Effective risk management is a core theme and practice in PRINCE2 Agile and is crucial for agile environments where change and uncertainty are inherent. The practice ensures that risks are continuously monitored and appropriate responses are planned and implemented. This proactive management helps keep the project viable and aligned with business justification.

While plans support managing scope and resources, issues deal with current problems rather than potential future events, and quality ensures that products meet requirements, risk management uniquely focuses on uncertainty.

The PRINCE2 Agile guidance emphasizes integrating agile techniques such as frequent reviews and retrospectives to improve risk awareness and control.