11.2 Identify Risks
Process Definition
Once the risk management approach has been settled upon, the process of identifying risks must be undertaken. It is imperative that risks be identified and labeled in the correct way in order to provide the best opportunity to mitigate those risks and support the best possible outcome for the project.Process Assessment
The risk identification process is the single most important risk process. In identifying risk, and more importantly in writing good risk statements, the project team has the greatest opportunity to set the team up for success in risk management. Skill in this process is invaluable.
Figure 22. Identify Risks: Inputs, Tools and Techniques, and Outputs. Reprinted from "A Guide to the Project Management Body of Knowledge (PMBOK Guide), 5th Edition" by Project Management Institute, 2013, p. 319. Copyright 2013 by Project Management Institute, Inc. Reprinted without permission.
- Expert Judgement: Essay describing an effective tool and technique to write a risk statement, best allowing response plans to be developed. The value of writing a good risk statement cannot be overstated.
- Checklist Analysis: The risk breakdown structure in this artifact is one of the frequently used checklist tools and techniques for identifying risks.
- Risk Register: This is an example of a risk register, the primary output of the "Identify Risk" process. It contains identified risks, response plans and status reports of risks, among other things.