How does risk and risk management become a factor in the equation of project management?

Question description

“The ‘Risk’ Constraint” Please respond to the following:

  • In project management, the triple constraint (scope, time, and cost) are commonly known. More recently, the triangle has changed to a project management diamond, with cost, time, scope, and quality with customer expectations as a central theme.
    • How does risk and risk management become a factor in the equation?
    • How can managing the unknowns offer a new way of looking at the problem in novel and unknown environments?
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