A risk management plan is the procedure' primary result. The process of identifying hazards is identifying the risks that are most likely to have an impact on a project and noting their specifics.
The process of identifying risk is identifying the risks that are most likely to have an impact on a project and noting their specifics. A risk registry, risk report, and project document updates are the process' primary outputs.
So in any business, risk management starts with 4 broader steps —
1. Identification of Risk
2. Risk Assessment
3. Risk Mitigation
4. Risk Control
You can approach or identify the risk with 2 options —
a. Brainstorming
b. SWOT
In a brainstorming session, you and the other team members sit down and discuss potential risks in order to come up with as many as you can. This choice will assist in considering the risk coming from various angles because numerous minds are involved.
SWOT — Strengths, Weakness, Opportunities & Threats
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