The process of identification and evaluating risks starts in the planning phase of the project and continues through out the project. It is important to determine each risk likelihood to occurring as well as its effect on the overall project .The earlier the risks can be identified, earlier plans can be made to mitigate risks. Qualitative risk analysis focus on high impact risk for which proper mitigation responses can be planned while Quantitative risk analysis evaluate effect of identified risk on overall project , decision can be made with reduced uncertainty . However interview with colleagues and stakeholder with relevant experience can garner a lot of ideas and information. It is important to look up organization historic data to search for risk and then evaluate them, reports from the previous project can be a huge asset. The other methods to identify risk are checklist analysis, diagramming techniques , SWOT analysis.