People refuse to discuss the risk management might they face during project , this fear due to natural of human being that we do not want to hear a bad news ,and discuss about things may/may not happen in future “if we have time we have to spend it in project implementation” . The executive of organization will make risk management a search for opportunities as well as threats . There are a number of reasons behind the failure in risk management, one of them is Incorrectly Identifying the Risk .
Identifying the risk is an essential part of project management ,due to the fact that any risk may happen that will cause you to miss one of the following: product, schedule or resource target .
The fact that organization haven’t undertaken project similar to present project is a risk ,you can start with a default risk associated to the project (life cycle)stages; down some of them .
Stage 1: Starting the project ; possible risk are no formal feasibility study has been done ,no formal benefit-cost analysis has been done .
Stage 2: Organizing and preparing ;possible risk are some plan not approval ,part of plan are missing .
Stage 3: Carrying out the work :risk might face are ; no team procedures to resolve conflicts ,incorrect information regarding schedule performance ,one of key project worker reassigned .
Stage 4: Closing project ; Risk associated with this stage are ,project team members are assigned to new project before the current project is completed ,and project result not approved by one of project drivers .