Risk Identification Process

Risk identification refers to the measures and processes used to determine any risks with the potential to prevent the business, project or investment from achieving its primary goals. Along with identifying any and all key risks, the risk identification process also involves full documentation and reporting of the risks discovered. As the first critical stage in a wider risk management program, risk identification is also regarded as the most important. Risks may originate from internal and external sources alike – some of which are controllable, others cannot be influenced. The ability to identify risk with pinpoint precision is one of the most important skills the professional risk manager can possess.

Learn more about the risk identification process with this fascinating tutorial. Study the typical contents of a risk register, how to clarify the objectives of the business and the close relationship between risk and opportunity. Find out how effective risk identification contributes toward the wider success of the entire organisation.