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ProPM Logo Identify Risks    
   
   
   
   
   
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The Identify Risks process determines which risks;

  • May affect the project;
    • Documents their characteristics.

The key benefit of this process is;

  • The documentation of existing risks;
  • The knowledge & ability it provides;
    • To the project team.
    • To anticipate events.

Risk identification is an iterative process;

  • New risks may evolve or become known;
    • As the project progresses through its life cycle.
  • The frequency of iteration and participation in each cycle varies by situation.

The format of the risk statements should be consistent to ensure;

  • Each risk is understood clearly and unambiguously.
  • In order to support effective;
    • Analysis.
    • Response development.
  • The risk statement should support the ability to;
    • Compare the relative effect of one risk against others on the project.

Some project personnel are often key participants for risk identification.
All project personnel should be encouraged to identify potential risks.

  • So they can develop & maintain a sense of ownership & responsibility for;
    • The risks.
    • The associated risk response actions.

Some stakeholders outside of the project team may provide additional objective information.

Participants in the risk identification process many include numerous sources;

  • The project manager.
  • Project team members.
  • Risk management team ( if assigned. )
  • Customers.
  • Subject matter experts from outside the project team.
  • End users.
  • Other project managers.
  • Stakeholders.
  • Risk management experts.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
           
   
   
   
   
   
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Risk Management          
Plan execution          
Identify Risks          
           
           
Process Inputs          
Risk Mgmt Plan          
Cost Mgmt. Plan          
Schedule Mgmt. Plan          
Quality Mgmt. Plan          
HR Mgmt. Plan          
Scope baseline          
Activity cost estimates          
Activity duration estim.          
Stakeholder register          
Project documents          
Procurement Docs.          
enterprise environmental factors          
organizational process assets          
           
           
Tools and Techniques          
Documentation reviews          
Info. Gathering Tech.          
Checklist analysis          
Assumption analysis          
Diagramming Tech.          
SWOT analysis          
expert judgment          
           
           
Process Outputs          
Risk register          
           
           
Process Benefits          
The identification and documentation of new & existing risks, specifically to scope, schedule and cost plans; informs the project team and provides an ability to anticipate and analyze the impact of potential future events.          
         
         
         
         
         
         
   
   
   
   
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