ABSTRACT
Risk identification entails researching the project to determine its components and risks. Project managers must look not only at the information for doing risk identification but also at the personnel carrying out the project, throughout the organization. After collecting the information, project managers identify the components or processes of the project and its risks or goals. When identifying components, project managers frequently try to ‘explode’ everything into individual pieces. Such an attempt results in frustrating everyone participating in the risk identification step. Identifying goals and risks of projects follow the same pattern as processes. Project managers must recognize that not all goals and risks are equal regardless of perspective. Project managers can take several approaches towards prioritizing components, risks, and goals. They can do it by themselves or with a group. The same considerations are applicable to prioritizing as with identifying them.
