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On December 17, 1903, Orville and Wilbur Wright made the first successful powered airplane flight. It was quite an amazing accomplishment, but I don’t believe it would have been possible if they were working in today’s business world. The problem would have been the drive for perfection. It would have started something like this…
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Saturday, 27 January 2007 17:15

Risk Identification

PMI defines risk identification as determining which risk events are likely to affect the project and documenting the characteristics of each. This process involves identifying three related factors: (1) potential sources of risk (schedule, cost, technical, legal, and so on), (2) possible risk events, and (3) risk symptoms.

The timing of risk identification is also of vital importance. PMI® advocates that risk identification should first be accomplished at the outset of the project and then be updated regularly throughout the project life cycle. 

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