Risk identification is the initial step in risk management. It involves recognizing potential risks within the scope of a project such as the construction of an offshore wind farm. Effective risk management relies on identifying as many risks as possible. At this stage, the focus is not on assessing the impact or likelihood of these risks—that comes later—but on identifying all potential risks that could affect the project. Risks can arise from various sources, both internal and external. Therefore, it is crucial to identify all risks, regardless of whether they stem from human factors, technology, or natural hazards.

There are various methods that can be used as tools to identify risks. One such method is a SWOT analysis, which helps to identify a project's strengths, weaknesses, opportunities, and threats. Other useful tools include brainstorming and brainwriting sessions, checklists, interviews, historical data analysis, the Delphi method, assumption analysis, root cause analysis, causal mapping, and consulting both internal and external experts. These methods provide different perspectives and help ensure a complete identification of risks.

Identifying risks is a crucial aspect of project risk management. It is important to gather inputs from all relevant stakeholders, as well as from individuals who may not be directly involved in the project but possess valuable insights from their experience with similar projects. This is where the Red Team plays a key role in the RoC Drill.

Interviews are an effective method for identifying risks, particularly when you have access to experienced project managers, team members, or field experts. By presenting the project to them, they can provide valuable insights and share previous risk identifications based on their experience. This approach is also used in RoC Consult and our planning of the RoC Drill, where we gather crucial information from key stakeholders through interviews. This enables us to tailor the RoC Drill planning to meet the specific needs of the client.

Reflections:

• It is important to collect enough and quality data to base your risk identification on.

• There is a lot of different methods, and not all are suited for everyone.

• Use the information from people with experience.

• What have previous projects done right or wrong.

Sources:
Kousholt, Bjarne. (2020). Projektledelse: teori og praksis (8. udg.). Akademisk Forlag.

This article was written by the combined effort of:
Mads Rosenwanger & Valdemar Kragh Dan