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When we start working on projects, one of the key activity is to always identify the project risks. Project Risk Management is generally all about identifying, assessing, strategizing, mitigating and minimizing (if not preventing) the impact of threats to the project.

There are several types of risks which include cost, schedule and performance/outcome of the project.

In general, we look at some of these steps to manage risks:

• Identify risks
• Assign ownership
• Analyse risks
• Prioritise risks
• Take an action(s)
• Monitor

There are many references to this topic and here are some that could be good reads.

Some interesting read can be found :

• Risk identification
  
• Risk Identification Challenges and Solutions
• Common pitfalls
• Project Risk Management Process