'Identification of risk is the process of identifying the sources of individual project risks and overall project risks, and recording the characteristics of the risks. The main function of this process is to record the existing individual project risks and the sources of overall project risks; at the same time, to gather relevant information so that the project team can appropriately respond to the identified risks. This process needs to be carried out throughout the project.
11.2.2 Identifying risks: tools and techniques
11.2.2.1 Expert judgment
11.2.2.2 Data collection
The data collection techniques applicable to this process include (but are not limited to):
- Brainstorm .
- Checklist .
- Interview .
11.2.2.3 Data analysis
The data analysis techniques applicable to this process include (but are not limited to):
- Root cause analysis .
- Analysis of assumptions and constraints .
- SWOT analysis . This is to check the strengths, weaknesses, opportunities and threats (SWOT) of the project one by one.
- File analysis . Through a structured review of project documents, some risks can be identified.
11.2.2.4 Interpersonal relationship and team skills
The interpersonal and team skills applicable to this process include (but are not limited to) coaching (see section 4.1.2.3).
11.2.2.5 Reminder list
"The reminder list is a preset list of risk categories that may trigger individual project risks and can be the source of overall project risks."
11.2.2.6 Meeting
11.2.3 Identifying risks: output
11.2.3.1 Risk Register
"The risk register records the details of the identified individual project risks."
When the process of identifying risks is completed, the contents of the risk register may include (but are not limited to):
- List of identified risks .
- The person responsible for potential risks .
- List of potential risk response measures .
11.2.3.2 Risk report
"The risk report provides information about the overall project risks, as well as summary information about the identified individual project risks."
When completing the risk identification process, the content of the risk report may include (but is not limited to):
- The source of overall project risk . Explain which are the most important drivers of overall project risk exposure.
- Summary information about the identified individual project risks .