Ace the ECBA Challenge 2025 – Unleash Your Business Analysis Superpowers!

The technique used to assess potential risks to a project is risk analysis. This method involves identifying, evaluating, and prioritizing risks based on their likelihood and potential impact on the project's objectives. It helps project stakeholders understand what could go wrong, the severity of these risks, and how to mitigate or manage them effectively.

Risk analysis is crucial within the project management lifecycle because it informs decision-making processes and helps ensure that risks are addressed proactively rather than reactively. By applying this technique, teams can develop risk response strategies, allocate resources more effectively, and enhance overall project resilience.

Considering the other options: cost-benefit analysis focuses on comparing the expected costs and benefits of a project or decision; impact analysis assesses the consequences of a change on a project or system; and change analysis evaluates the effects of changes made to project requirements or scope. While these are valuable techniques in project management and business analysis, they do not specifically focus on the assessment of potential risks, which is the primary concern of risk analysis.