Which term is used to describe the process of recognizing risks in a project?

Which term is used to describe the process of recognizing risks in a project?

• A. Risk Analysis
• B. Risk Evaluation
• C. Risk Identification
• D. Risk Management

Answer: (C)

Recognizing potential events that could affect project objectives is risk identification. This step focuses on spotting and describing possible risks before you analyze or act on them, building a complete list or risk log of what could go wrong. By capturing risk sources, triggers, and potential impacts early, you create the foundation for later steps that assess likelihood and severity and decide how to respond. Risk analysis comes after, as you estimate probability and impact; risk evaluation involves judging significance against criteria; risk management covers planning and implementing actions to handle risks. For example, during planning you might note risks like supplier delays or design changes and add them to the risk log. Starting with identification ensures you don’t miss potential problems and sets up effective later decision-making.

Recognizing potential events that could affect project objectives is risk identification. This step focuses on spotting and describing possible risks before you analyze or act on them, building a complete list or risk log of what could go wrong. By capturing risk sources, triggers, and potential impacts early, you create the foundation for later steps that assess likelihood and severity and decide how to respond. Risk analysis comes after, as you estimate probability and impact; risk evaluation involves judging significance against criteria; risk management covers planning and implementing actions to handle risks. For example, during planning you might note risks like supplier delays or design changes and add them to the risk log. Starting with identification ensures you don’t miss potential problems and sets up effective later decision-making.