Risk Identification

Risk Identification is discovering, defining, describing, documenting and communicating risks before they become problems and adversely affect a project.  Accurate and complete risk identification is vital for effective risk management.  In order to manage risks effectively, they must first be identified.  The important aspect of risk identification is to capture as many risks as possible.  During the risk identification process, all possible risks should be submitted.  Not all risks will be acted upon.  Once more details are known about each risk, the decision will be made by the project members as to the handling of each risk.  There are various techniques that can be used for risk identification.   Useful techniques include brainstorming methods as well as systematic inspections and process analysis.  Regardless of the technique used, it is essential to include key functional area personnel to ensure no risks go undiscovered.  

- Risk Identification Outputs 

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