Risk assessment is the process of identifying potential hazards or risks that could cause harm to people, property or the environment, and then evaluating the likelihood and severity of those risks.
In simpler terms, risk assessment is like checking your surroundings for any danger or risks that could cause harm, and then deciding how likely it is for those risks to happen and how severe the consequences would be if they did happen. This helps you to take steps to prevent those risks from happening, or to reduce their impact if they do occur.
Risk in projects may result in new requirements which shall be included in the requirements management system.
Dokumatic M. Toth