Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 1 00:00:01,450 --> 00:00:03,960 Risk identification is the first step 2 2 00:00:03,960 --> 00:00:05,720 in the process. 3 3 00:00:05,720 --> 00:00:10,140 You start by identifying as many risks as possible. 4 4 00:00:10,140 --> 00:00:14,028 We'll shortlist and analyze them in separate steps later. 5 5 00:00:14,028 --> 00:00:16,590 You usually start simply by sitting down 6 6 00:00:16,590 --> 00:00:19,050 and brainstorming with your core project team, 7 7 00:00:19,050 --> 00:00:21,743 writing down as long a list as you can, 8 8 00:00:21,743 --> 00:00:24,610 leverage historical information by reviewing 9 9 00:00:24,610 --> 00:00:26,560 the risk registers and lesson learned reports 10 10 00:00:26,560 --> 00:00:31,121 from past projects, double-check the project assumptions 11 11 00:00:31,121 --> 00:00:32,850 and ask if there's any chance 12 12 00:00:32,850 --> 00:00:34,763 any might turn out not to be true. 13 13 00:00:36,320 --> 00:00:38,320 And for larger projects, hold several 14 14 00:00:38,320 --> 00:00:40,310 risk identification meetings through planning 15 15 00:00:40,310 --> 00:00:42,310 to see if more risks occur to the team 16 16 00:00:42,310 --> 00:00:43,693 as the plan is shaping up. 17 17 00:00:45,410 --> 00:00:48,780 Two key tools in particular help the team 18 18 00:00:48,780 --> 00:00:50,580 during risk identification meetings. 19 19 00:00:51,720 --> 00:00:54,310 First, the risk checklist. 20 20 00:00:54,310 --> 00:00:56,930 To help jog the memory, your organization, 21 21 00:00:56,930 --> 00:00:59,870 department, or group should have a standard list, 22 22 00:00:59,870 --> 00:01:02,640 kept periodically updated, of all the risks 23 23 00:01:02,640 --> 00:01:05,233 that have occurred to past projects in your area. 24 24 00:01:06,310 --> 00:01:07,670 There are many internet templates 25 25 00:01:07,670 --> 00:01:09,883 you can take a look at as starting examples. 26 26 00:01:11,300 --> 00:01:14,740 And the SWOT tool, which stands for strengths, 27 27 00:01:14,740 --> 00:01:17,253 weaknesses, opportunities, and threats. 28 28 00:01:18,110 --> 00:01:21,360 The advantage of this standard tool is two-fold. 29 29 00:01:21,360 --> 00:01:24,140 For the negative risks, it helps you first identify 30 30 00:01:24,140 --> 00:01:26,930 the weaknesses of the project and organization, 31 31 00:01:26,930 --> 00:01:29,660 which makes it easier to then identify threats 32 32 00:01:29,660 --> 00:01:31,610 that could arise from those weaknesses. 33 33 00:01:33,040 --> 00:01:35,530 And for the positive risks, which we'll look at 34 34 00:01:35,530 --> 00:01:38,020 towards the end of this section, it helps you identify 35 35 00:01:38,020 --> 00:01:40,914 the strengths of the project and organization first, 36 36 00:01:40,914 --> 00:01:44,040 which makes it easier to then identify opportunities 37 37 00:01:44,040 --> 00:01:45,940 that could arise from those strengths. 38 38 00:01:46,910 --> 00:01:49,330 Opportunities in particular can be hard to find, 39 39 00:01:49,330 --> 00:01:54,170 and this two-step process, strengths to opportunities, 40 40 00:01:54,170 --> 00:01:57,620 can really help, and is the main value of the SWOT tool 41 41 00:01:57,620 --> 00:01:59,370 to the risk identification process. 3678