ABSTRACT
The systematic analysis of risks and their consequences was born out of the statistical processes associated with the insurance industry and used such measures as expected values and cumulative probability curves. The range of software products is wide, both in terms of intent and operation, but the packages can be seen to fall into four broad categories, each of which cover a different aspect and have resulted in software specific to that category. The four broad categories include risk identification aids, risk status monitors, decision-making aids and simulation models. The process of identifying risks is essentially a creative one as it implies casting the mind forward from a known position to a future in which some adverse effect arises. All project managers involved with projects with some clearly identified risks need to keep an eye on the situation and the most popular method is the 'Risk Register'.
