Project Risk Identification: A Case Study on the Use of Risk Identification Methods in an Investment Project

Realizing projects in different areas of activity involves countless risks that cause project teams within organizations to carry out a formal risk management process. In this formal risk management process, a first step is to identify the risks. Several specific methods and techniques are used to identify the risks. Two of these methods, the risk table and the risk breakdown structure, are used in the case study presented in this article. The use of the two methods has led to the identification of similar risks but also of different risk categories. Therefore, in the project risk identification process, a mix of methods and techniques should be used to complement each other and not a single method or technique.