The PMI process to identify risks is a useful planning step in the risk management knowledge area. Many sources are useful inputs to help in the identification. Once the list of risks is compiled into a risk register, the team will determine their importance, likelihood, and how to handle them in the later processes.

Related: risk, issue, plan risk management

According to the PMBOK, this activity has the following characteristics:

Inputs Tools and Templates Outputs
risk management plan, cost management plan, schedule management plan, quality management plan, human resource management plan, scope baseline, activity cost estimates, activity duration estimates, stakeholder register, project documents, procurement documents, enterprise environmental factors, organizational process assets documentation reviews, information gathering techniques, checklist analysis, assumptions analysis, diagramming techniques, SWOT analysis, expert judgment risk register

Identify risks is one of the PMI processes. It is described in section 11.2 of the PMBOK (5th edition).