Determine which risks are acceptable by making an inventory of the possible threats in a project and determining the probability and impact of each threat. Possibly also determine the effect in, for example, terms of costs.
Analyse the project together with a group of experienced people to identify possible threats. Check if safety regulations, laws, or standards are applicable in the context of the project. Beside threats you can also determine opportunities, for example when using a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats).
When the investments get bigger, a risk analysis becomes common practice.Save to favorites