Perform a preliminary document analysis
Gather and review documents
Give examples of preliminary documents to review prior to risk identification includes industry benchmarks (if available), previous lessons learned, historical data, and the sources of the above information.
Determine and assign who is responsible for the preliminary document analysis (e.g., project manager, risk manager, financial controller)
Establish documents relevant to the risk process
Assess project environment for threats and opportunities
Determine which OPA / EEF / project methodology is needed (e.g., agile, waterfall, hybrid, etc.)
Analyze the different environmental factors to be considered in the planning phase (e.g., PESTLE, SWOT analysis)
Determine the organizational and cultural risk appetite
Analyze environment for risk culture maturity
Evaluate the project management information system process and data
Conduct a stakeholder analysis
Analyze constraints to risk management
Government, market laws/rules, organizational, environmental, and technical risks
Focus stakeholders on creating a culture of risk awareness
Determine business driver of project, including key assumptions, benefits, and materialization of project.