Guide to Risk Identification in Agile Risk Management

Risk Identification is a crucial aspect of Agile Risk Management in PMI-ACP. Its main objective is to identify potential risks early in the project lifecycle, so as to avoid negative impact on the project's objectives. The identification of risks, both positive (opportunities) and negative (threats), is done continuously and collaboratively by the whole team.

Its importance lies in providing foresight into what could possibly go wrong and in turn, facilitate proactive preventive or mitigation actions.

Risk Identification works in a variety of ways: brainstorming sessions, retrospective meetings, checklist analysis, assumptions analysis, and more. The identified risks are then logged into a risk register for evaluation and prioritization.

Exam Tips: When answering questions about Risk Identification, it's important to:
1. Understand the underlying principles of Risk Management and specific techniques involved in identifying risks.
2. Emphasize on the iterative and continuous nature of Risk Identification in Agile.
3. Don't confuse Risk Identification with Risk Evaluation or Risk Response - remember, identification is the first stage.
4. Use specific examples as much as possible, understand the context of the question.