What is the main goal of risk assessment in project planning?

The main goal of risk assessment in project planning is to identify potential project risks. This process involves systematically analyzing various aspects of a project to uncover uncertainties that could threaten its success. By identifying risks early, project managers can develop strategies to mitigate them, allowing for better decision-making and resource allocation throughout the project's lifecycle.

Understanding potential risks enables teams to implement preventive measures, create contingency plans, and allocate resources more efficiently. This proactive approach not only minimizes the likelihood of negative outcomes but also enhances the overall resilience of the project.

While increasing project profitability, meeting regulatory requirements, and reducing team involvement are important considerations in project management, they are not the primary focus of risk assessments. Properly identified risks can lead to better profitability and compliance, but without the foundational step of identifying those risks, other objectives may not be achievable.