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11 - PROJECT RISK MANAGEMENT

• Interviewing. Interviewing experienced project participants, stakeholders, and subject matter experts
helps to identify risks.
• root cause analysis. Root-cause analysis is a specific technique used to identify a problem, discover
the underlying causes that lead to it, and develop preventive action.

11.2.2.3 checklist Analysis

Risk identification checklists are developed based on historical information and knowledge that has been
accumulated from previous similar projects and from other sources of information. The lowest level of the RBS
can also be used as a risk checklist. While a checklist may be quick and simple, it is impossible to build an
exhaustive one, and care should be taken to ensure the checklist is not used to avoid the effort of proper risk
identification. The team should also explore items that do not appear on the checklist. Additionally, the checklist
should be pruned from time to time to remove or archive related items. The checklist should be reviewed during
project closure to incorporate new lessons learned and improve it for use on future projects.

11.2.2.4 Assumptions Analysis
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Every project and its plan is conceived and developed based on a set of hypotheses, scenarios, or assumptions.
Assumptions analysis explores the validity of assumptions as they apply to the project. It identifies risks to the
project from inaccuracy, instability, inconsistency, or incompleteness of assumptions.

11.2.2.5 diagramming techniques

Risk diagramming techniques may include:

• cause and effect diagrams. These are also known as Ishikawa or fishbone diagrams and are useful for
identifying causes of risks.
• System or process flow charts. These show how various elements of a system interrelate and the
mechanism of causation.
• Influence diagrams. These are graphical representations of situations showing causal influences, time
ordering of events, and other relationships among variables and outcomes, as shown in Figure 11-7.

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