Assume you have just been assigned to a project risk team composed of five membe

Question

Assume you have just been assigned to a project risk team composed of five members. Your task, as project manager, is to develop a process for handling risks to the project. Because this is the first time your organization has formally set up a risk team for a project, it is hoped that your team will develop a process that can be used on all future projects. Your first team meeting is next Monday morning. Each team member has been asked to prepare for the meeting by developing, in as much detail as possible, an outline that describes how you believe the team should proceed in handling project risks. Each team member will hand out his or her proposed outline at the beginning of the meeting. Your outline should include, but not be limited to, the following information:

What should be considered when identifying risks? 

Explanation / Answer

When should risk identification occur:

What should be considered while identifying risks:

For any project team, the task of identifying risks is a brainstorming activity for all the members of the team and requires skills and creativity for the same.

Following are the points, which must be considered while identifying risks:

Ways to identify Risks:

There are number of ways that can be used by the team while identifying risks, such as:

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