Identify risks is the process of determining which risks may affect the project and documenting their characteristics. (PMBOK®, 5th Edition)
KEY BENEFITS:
It documents existing risks, and
It provides the project with knowledge and ability on how to anticipate risks.
What to be considered during this process?
It should involve the project team and appropriate stakeholders,
It is an iterative process,
It has to be kept simple, and
It also provides a team building exercise for the team.
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