10 Identify risk
Tony Allan
Precaution helps to prevent risk
Identifying risks involves reviewing documents, other information and inputs that have been gathered. These need to include some of the “children” of the project management plan, such as cost, schedule and quality management plans.
PMBOK’s “Figure 11 – 6 Identify Risks Data Flow Diagram” (from the 5th edition) provides a more complete picture of; Inputs; Processes; and Outputs.
Assumptions made need to analysed, and a checklist of risks created (typically from historical information and experience). Developing a complete understanding of the risks being faced can be enhanced by using techniques such as diagramming techniques and/or a SWOT analysis.
The output from Identifying Risks is a “Risk Register”, which includes a list of identified risks and a list of potential responses.
Real life example in Power and Water Industry
For more information, go to: http://www.entura.com.au/managing-risks-for-successful-sustainable-projects/
