Risk identification is done during?
One of the processes available in project risk management is to identify risks. This process identifies the individual project risks and determines the sources of the overall project risk and document their characteristics. Amber is working on identifying the risks in the project that she is working on. Her project manager asked her to identify all the risks and plan the risk response strategies to deal with them. Risk identification is done during?
A. At the beginning of the project.
B. At regular intervals throughout the project.
C. During execution of the project.
D. During developing project charter.
Answer: Option B is correct. Risk identification is done at regular intervals throughout the project.
Risk Identification process
Risk Identification process is used to identify all the risks which affect the project and document their characteristics. Risk identification is an iterative process, new risks evolve as the project progresses, and it will continue throughout the project. Participants in the risk identification process are project manager, project team, SME, customers, stakeholders, end users and other risk management experts. The project team is involved in this process of risk identification for the purpose of ownership of risks as well as the responsibility of risk response actions. Major risk identification occurs during the planning process.