Risk Identification

Risk identification in project risk management is the process of recognizing potential issues that could affect a project's success. This involves gathering input from team members, stakeholders, and experts to uncover uncertainties that may arise during the project. These risks can be related to factors like resources, time constraints, budget, and external events. By identifying these risks early, project managers can develop strategies to mitigate them, ensuring smoother project execution and increasing the likelihood of achieving the project's goals on time and within budget.