BSBRSK401 – Identify risks – Checkpoint 1

1. A risk is defined as a situation, problem or activity that would have an impact on the progress of a program, sub-program or project if it were to actually happen.

2. Risk identification typically begins with identifying the scope of the risk management activity.

3. Your risk management plan needn’t be documented.

4. Influence diagrams typically are similar to a project network diagram or Microsoft Project PERT charts.

5. Risks should not be a normal part of business if well planned.

6. Effective management of risk will help with the management of innovation and improve performance.

7. A facilitated workshop is a structured approach that enables a group of people to work together to reach a predetermined objective.

8. When writing a risk management plan always use the services of a risk management consultant.

9. Risk identification is the process of recognising the opportunities opened up by each activity or phase of the project and clarifying where the risk lies.

10. Risk management starts with risk analysis.