Examine the risk attributes like probability, impact, urgency
Establish risk origin and ownership e.g., internal/external
Classify risks as threats or opportunities
Perform qualitative analysis
Perform a nominal classification or risks in the RBS using classifications from the risk management plan (e.g., environment, organizational, project management, technical, etc.)
Estimate the impact of risk on project schedule, budget, resources, and scope
Prioritize the risk based on impact, and urgency
Agreed-upon assessment approach, Historical information, Definitions of probability and impact, Risk categories, Pre-established criteria
Perform an ordinal classification
Coach stakeholders on risk categorization strategies
Perform quantitative analysis
Analyze risk data and process performance information against established metrics
Analyze a project’s general risks
Perform a forecast and trend analysis on new and historical information
Perform sensitivity analysis