Does everyone involved understand all the risks associated with the project. When this is not fully understood then the probability of those risks occurring increases. Have the following questions been answered by the team?

• Have the key risks been identified?

• Has a risk management plan been documented? The risk management plan is a documented list of all risks and their potential impact (good or bad...).

• Has a risk response plan been documented? The risk response plan list the ways the team can reduce or eliminate the potential threat to the project should the risk eventuate.