Introduction - As a Project Management Professional, an individual is deemed to know various tools and techniques that assist in identifying risks. During the course of PMP training, professionals are introduced to various aspects of project management, among which risk management is one. This entitles project managers to be prepared for any kind of risks that may occur while carrying out a project.
1. Delphi technique:
This technique is followed by project managers working in reputed organizations. Such businesses consult experts anonymously to gather information on risks. Project managers send only required information to the panel of experts and gather their responses on matters related to the project.
2. Review of documents:
One of the traditional methods of identifying risk in an organization is to pay attention to project-related documents. This assists a project manager to identify risks by referring to past situations.
3.Maintaining a risk register:
A risk register documents all the risks identified along with their root causes while carrying out a project. The register then becomes part of the project document which can be accessed again in the future while carrying out similar projects.
4.SWOT analysis:
This method of finding risks associated with projects has been followed for quite a few years not. Determining the strengths, weaknesses, opportunities and threats of carrying out a project helps in identifying all potential risks that a project carries.
5.Interview:
At intervals, a project manager can conduct interviews with all the stakeholders who are closely involved in the project to identify all possible risks that may arise. This way a project manager can cover all three categories of risks.
6.Brainstorm:
A project manager can conduct brainstorming sessions with the project team while starting to work on the project. This helps the project manager to gather ideas from the team and analyze which risks have a potential impact and which don’t have.
