Final answer:
The initial focus of risk management in the project's early stages should be on areas that have the greatest schedule impact. This helps prevent delays and ensures timely project completion.
Step-by-step explanation:
The initial focus of risk management in the project's early stages should be on the areas that have the greatest schedule impact, as delays in the project schedule can have ripple effects on other aspects of the project. By identifying and addressing risks related to schedule, the project team can take proactive measures to mitigate these risks and ensure timely project completion.
For example, if the project has a strict deadline and any delay in one task could cause a delay in the project as a whole, it is crucial to identify and manage the risks associated with that critical path. This allows the team to allocate resources appropriately and take proactive measures to mitigate potential risks.
While risks that have the greatest cost impact should also be considered, focusing on schedule risks in the early stages can help prevent delays and keep the project on track.