Risk analysis is the second stage in the RMP where collected data about the potential risk are analyzed. Risk analysis can be described as short listing risks with the highest impact on the project, out of all threats mentioned in the identification phase (Cooper et al. 2005). Although
some researchers distinguish between terms risk assessment and risk
analysis and describe
them as two separate processes, for the purpose of this paper, this part of RMP will be consistent with the model provided by Smith et al. (2006) and described as one process.