What process involves reviewing all aspects of a project to identify potential risks?

The process of reviewing all aspects of a project to identify potential risks is known as risk identification. This phase is crucial in project management as it focuses on uncovering any uncertainties that could negatively affect the project's success. By conducting a comprehensive review, stakeholders can create a comprehensive list of risks that might arise during the project lifecycle.

Risk identification involves various tools and techniques, such as brainstorming sessions, expert interviews, and SWOT analysis, to ensure that all possible risks are captured. Once these risks are identified, they can be documented and prioritized for further analysis and planning, which leads to effective risk management strategies. This proactive approach helps in mitigating potential issues before they impact project outcomes.

In summary, risk identification is essential as it lays the foundation for the subsequent phases of risk management, ensuring that project managers are well-prepared to handle uncertainties throughout the project's progression.