In what phase are the potential risks of a project typically identified and assessed?

The identification and assessment of potential risks in a project typically take place during the planning phase. This is when project managers and teams outline the project's scope, objectives, and strategies, as well as identify any uncertainties that may impact the project's success.

In the planning phase, a thorough risk analysis is crucial as it allows stakeholders to proactively pinpoint possible problems and evaluate their potential impact on the project's schedule, budget, and overall objectives. This proactive approach helps in formulating appropriate risk mitigation strategies and responses, ensuring that the project can navigate challenges that may arise during execution.

While risks can also be monitored and addressed in the execution phase, the initial identification and assessment are fundamentally rooted in the planning stage, making it the most appropriate context for discussing risk management within project delivery. The other phases, such as closure and design, may involve reviewing or analyzing risks, but they do not primarily focus on the comprehensive risk assessment necessary for effective project delivery.