How often should a risk assessment take place?

The amount and type of risk assessment you do will depend on the project complexity, where you are in the project lifecycle and also the particular risk culture you are working in (e.g. risk tolerant or risk avoidant). A good rule of thumb with risk management is to figure out your optimal level of risk management and then be a little more conservative as we generally underestimate our approach to risk on a project.

Risk assessment is generally done for all projects. The steps involved are:
Identify Risks -- Perform Qualitative Risk Analysis -- Perform Quantitative Risk Analysis
When identifying risks, SWOT (Strengths, Weaknesses, Opportunities & Threats), Tree diagrams, Monte Carlo analysis and FMEA (Failure Mode & Effect analysis) are some methods used. The list of risks is documented in a Risk Register.
Qualitative risk analysis is done by prioritizing risks for further analysis based on the probability of their occurrence and impact.
Quantitative risk analysis is then performed by numerically analyzing the effect of the identified risks on overall project objectives.

We use two different terms - assessment and evaluation - that have, of course, different meaning difficult to understand if you are familiar with risk management..
Assessment Process (identification, analysis and assessment) is a continious process and evaluation is carried out at intervals.

The frequency is agreed in the FrameWork for Risk Management.

We use two different terms - assessment and evaluation - that have, of course, different meaning difficult to understand if you are familiar with risk management..
Assessment Process (identification, analysis and assessment) is a continious process and evaluation is carried out at intervals.

The frequency is agreed in the FrameWork for Risk Management.

Risk assessment is generally done for all projects. The steps involved are:
Identify Risks -- Perform Qualitative Risk Analysis -- Perform Quantitative Risk Analysis
When identifying risks, SWOT (Strengths, Weaknesses, Opportunities & Threats), Tree diagrams, Monte Carlo analysis and FMEA (Failure Mode & Effect analysis) are some methods used. The list of risks is documented in a Risk Register.
Qualitative risk analysis is done by prioritizing risks for further analysis based on the probability of their occurrence and impact.
Quantitative risk analysis is then performed by numerically analyzing the effect of the identified risks on overall project objectives.