ABSTRACT
Risk analysis identifies risk associated with a project and then helps the project team in developing an effective risk management plan. It is a process through which the project team increases the chance of successful completion of a project, saves time, resources and cost. Project risk analysis is a process of analyzing and managing risk in a project. The risk analysis includes analysis of the project environment, and of risk associated with the project. Many companies undertake ambitious and very complex projects which must be executed successfully often in a risky and uncertain environment. The risk management encourages discussion among team members on the issues of scalability of a project, the frequency of risk, risk management plan, and estimation of risk management activities, and maintenance of risk register. The qualitative risk analysis uses past project experiences, identified risks, budget, probability and impact of risks.
