What is the difference between risk and issue in project management?

In project management, the distinction between risk and issue is fundamental to effectively managing a project’s timeline, budget, and overall success. A risk is understood as a potential event or condition that, if it occurs, could affect the project's objectives in a positive or negative way. These are uncertainties that may or may not happen and are usually identified during the planning phases of a project. Recognizing these potential risks allows project teams to devise strategies to mitigate or manage them before they become actual problems.

On the other hand, an issue refers to a current situation or problem that has already occurred and requires immediate attention to resolve. Issues can arise unexpectedly and impact project operations directly, necessitating active management to minimize their impact on the project.

Understanding this distinction is crucial because it shapes the approach taken toward ensuring project success. By identifying risks early, teams can implement preventive measures; once issues materialize, the focus shifts to resolution and mitigation. This proactive versus reactive delineation in project management is essential for maintaining control over project outcomes.