BA Technique #38: Risk Analysis and Management

Identifying, assessing, and mitigating risks that could impact the initiative success or business objectives

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Attention, BAs! Today, we’re diving into the realm of uncertainty and mitigation with Risk Analysis and Management, a captivating Business Analysis technique from The BABOK Guide v3. By identifying, assessing, and developing strategies to mitigate risks, Business Analysts safeguard project success. Risk analysis and management are integral to optimizing system design and analysis outcomes. Without hesitation, let’s plunge into it!

What is this technique about?

The roots of Risk Analysis and Management can be attributed to multiple domains, such as project management, quality management, and financial management. The requirement to anticipate and tackle uncertainties and potential risks gave rise to structured methodologies for risk analysis and mitigation. In the realm of Business Analysis, Risk Analysis and Management surfaced as a way to recognize and handle risks associated with business ventures.

How to apply this technique?

Here are some suggested steps to apply this technique in Business Analysis:

1. Identify Risks…