Risk assessment approach

• Does the project manager and project team know and understand the scope of the risk assessment process?

• Does the project manager and project team agree on the approach to risk assessment?

• Does the approach pass reasonableness checks in terms of what is to be accomplished by the process?

• Have the project team been trained in quantitative methods of assessment?

• Have the risks been identified and recorded?

• Have key stakeholders participated in the identification process?

• Have risks been categorized into groups, for example political, economic, technical and external?

• Has the project manager gone to others in the organization for relevant knowledge and advice?

• Is the likelihood of the risk occurring calculated for all risks?

• Is the magnitude of the impact calculated for all risks identified?

• Is the tolerance level for each risk determined?

• Is the exposure level for each risk known?

• Have the results been tabulated into a risk matrix?

• Has the project manager reviewed the results?

• Has the project board reviewed the results?

• Has the project team received feedback from the project manager?