This is step 2 in our risk management process.
The aim of this step is to identify as many of our risks as we can.
A definition of risk is “uncertainty that matters”. A risk is something that might or might not happen that would have an impact on our objectives if it does happen.
There are several techniques that we can use for risk identification, such as brainstorming.
We add these risks to our risk register (also known as our risk log).
After Risk Identification the next step in the risk management process is Risk Analysis.