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3 Identifying and Recording Project Risks Free Online FlashCards

Study 3 Identifying and Recording Project Risks with 12 free online flashcards. Review key terms, definitions, and concepts with this interactive flashcard deck.

12 cards
01
Front

What makes an uncertain event a project risk?

Back

A project risk is an uncertain event or condition that, if it occurs, could affect one or more project objectives.

02
Front

What are the two possible directions of a project risk?

Back

A threat could have a negative effect; an opportunity could have a positive effect.

03
Front

How is an existing problem different from a risk?

Back

A problem that has already happened is an issue, not a risk; record it through the appropriate issue-tracking process.

04
Front

What should guide the start of risk identification?

Back

Start with clear project objectives and scope, then consider what uncertain events could affect them.

05
Front

How can a team make risk identification more systematic?

Back

Use complementary techniques and involve people with relevant experience, such as stakeholders and subject-matter experts.

06
Front

What sequence helps a risk-identification workshop generate useful ideas?

Back

First encourage ideas without judging them; then clarify and validate the candidate risks.

07
Front

Whom can risk-identification interviews consult, and what can they reveal?

Back

Ask team members, stakeholders, suppliers, and people from similar projects about uncertainties and warning signs.

08
Front

What is an important limitation of risk checklists?

Back

Checklists and prompt lists help surface risks, but they are prompts rather than complete lists.

09
Front

What does document and assumption analysis examine?

Back

Examine plans, estimates, contracts, requirements, dependencies, constraints, and assumptions; consider what happens if an assumption proves false or a constraint changes.

10
Front

In a risk statement, what is the cause?

Back

The cause is a known condition, source, or circumstance that creates uncertainty.

11
Front

What is a risk register for?

Back

A risk register is the shared record of identified risks. It supports consistent comparison, responsibility assignment, and updates.

12
Front

What core information can a risk-register entry contain?

Back

A practical entry includes a stable unique ID, risk statement, affected objective, category, threat-or-opportunity designation, owner, and agreed assessment and status fields.